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of this project. Timeline considerations were also involved in the decision to seek CWCB funding. <br /> The other programs have a lengthy application processes or do not allow for non-potable water <br /> proj ects. <br /> Collateral <br /> The Town can pledge the project assets and the general commitment from the Town's water <br /> enterprise system as collateral for repayment of the project. <br /> Economic Analysis <br /> The Town will receive a long term economic benefit from completing the project. The Town will <br /> need to return 9 of the Weldon Valley Shares it is currently leasing from a third party. This will <br /> prohibit the town from having enough water to in future years. The Town is also leasing water from <br /> Castle Rock on a short-term lease. If a drought situation occurs, the cost of augmentation water(if it <br /> can be found) increases considerably. This scenario would put an extreme hardship on the town and <br /> its citizens. With this project moving forward, the Town's water enterprise can ensure a strong <br /> stable water supply for the citizens of Wiggins. <br /> Social,Environmental, and Physical Impacts <br /> The project will have no to little social impacts on the area. There are no known environmental <br /> impacts. There will be a minor physical impact to the land as a result of grading the recharge pond <br /> on the property. <br /> Conclusion <br /> 1. The Town of Wiggins is a municipal corporation in Colorado that serves 900 residents and <br /> is expected to grow considerably over the next few years. <br /> 2. The project will assist the town in providing a clean potable water source to the town. <br /> 3. The estimated cost is $2,385,000, and is the best alternative. <br /> Page 13 of 15 <br />