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Financial Summary and Proiect Cost Estimate <br /> The estimated total project cost is $2,385,000.00(two million eight hundred fifty thousand). The <br /> Town is applying for a loan from the CWCB in maximum amount of 100% of the projects cost. The <br /> cost summary is listed in the table below. <br /> Proiect Description Cost <br /> Land and Water Rights Purchase $1,200,000 <br /> Closing Cost and Fees $70,000 <br /> Construction of Recharge Pond $850,000 <br /> Piping,Head-gates, Controls, Concrete $150,000 <br /> Engineering and Surveying $115,000 <br /> Total $2,385,000 <br /> The Town will cover any costs that exceeds the estimated project cost. <br /> The Town is requesting a 30-year loan from the CWCB,with the standard disadvantage community <br /> municipal lending rate,which currently is 2.40%. This would result in a total annual cost of <br /> $113,750.00. <br /> The Town will utilize water utility payments,water investment fees from new homes, and the 1% <br /> sales tax as needed to fund the annual debt obligations. A conservative 30-year projected budget has <br /> been attached as Exhibit B,which shows the Town repayment plan for future budget years. <br /> Alternative Financing Considerations <br /> The town has and is currently exploring loans and grants from the United States Department of <br /> Agriculture,the Colorado Department of Health,and Department of Local Affairs. The Town is <br /> pursuing the funding through the CWCB because your loan program best fits the goals and direction <br /> Page 12 of 15 <br />