CT2015-039 Request for Time Extension

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• Please provide a more detailed Project Cost breakdown of the referenced$3,110,528 o Should be broken into the 5 dams o Differentiate which cost are exact(because already completed), which are supported by bids, and which are still just an engineers estimate o Show also funds received, and source,for each dam Project Cost Breakdown Task by Cost (with estimate) FEMA CBG-DR BEMA CWCB Dam Mirror Dam $913,961 (Completed) $685,470 228490 643454 Rainbow $792,991 (Completed) $594,745 198248 352165 Willow $811,576(Bid) $562,500 393,000 (504381) Meadow $1,200,000(Estimate) (651,997) 600,000 (100,000) (500000) (Appeal) Sunset 300,000 (Estimate) (300,000) Restoration 592,000 (Grant) 592,000 TOTALS $3,110,528 $1,843,000 $1,585,000 426738 ($4,610,528) The intent is that we would repay the current $1 million dollars withdrawn from CWCB from the upcoming reimbursements. The remaining$500,000 we would use as the bridge loan for Willow Dam. We have already incurred and paid $72,000 for engineering costs, so we would only need $400,000 of the CWCB loan to bridge these costs. • Clarify what you estimate will be the final debt after all is said and done, giving two options based on the current FEMA appeal. Also keep in mind I will also do a financial analysis assuming no additional FEMA money is received to provide a worst case scenario. The original loan estimated a final loan of about$500,000 and it sounds as if you expect the addition money requested to more or less be a bridge loan that fully gets paid back. But I'm not sure if that depends on a successful FEMA appeal or not. Regarding the final debt we see two options: First if the appeal is rejected we will probably not pursue building Meadow Dam and use the CBG funds of$600,000 to rebuild lesser dams. Second,we might use what is left of the loan; $1,004,381 to fund the building of Meadow and Sunset Dams, but this would require a vote of the membership to assume the indebtedness or incur another special assessment.