CT2015-057 Feasibility Study

• Contract/PO #: CT2015-057
• Contract/PO #: C150366
• Contractor Name: Town of Windsor
• Contract Type: Loan
• Loan Projects - Doc Type: Feasibility Study

OPINION OF FEASIBILITY
The Town of Windsor has been involved in completing similar projects for water
storage, irrigation, and augmentation supply. The Town believes this project is feasible.
COLLATERAL
Based on their 2012 financial statement, the Town of Windsor Water Enterprise
had cash revenues of$1,616,193 in excess of cash expenses. Their annual
depreciation was $360,364 leaving a net income of$1,255,829. As of December 31 ,
2012 the Town of Windsor Water Enterprise balance sheet lists current assets of
$18,383,764, total assets of$56,108,051 and a total net position of
$51 ,884,739
CREDIT WORTHINESS
As of December 31 , 2012 the Town of Windsor Water Enterprise balance sheet had
total short term liabilities of$4,194,176 and long term liabilities of$29,136.
The Town's non-potable water fund has a CWCB Loan initiated in 2003 for the Kern
Reservoir dredging project. The loan is in the name of Kern Reservoir & Ditch Co and
has a balance of roughly $3.8M. The Town of Windsor has 100% ownership of the
Kern Reservoir& Ditch Co.
SOCIAL AND PHYSICAL IMPACTS
The project will have no significant social impacts at this point other than providing
some aesthetical value at the gateway into the town. In the future, the Town may
construct a park around the Kyger Reservoir for the community, but that is not being
considered at this time.
Regarding physical impacts, there will be new infrastructure created in the area. This
infrastructure will follow historical easements and completed so finished construction
has low physical impacts.
CONCLUSIONS
1. The Town of Windsor is an incorporated entity in the State of Colorado with the
ability to enter into a contract with the CWCB for the purpose of obtaining a
Construction Fund loan.
2. Easements will be granted as part of the Kyger Reservoir purchase and are
adequate for the construction of the required infrastructure.
3. The project would provide for the continued delivery of irrigation to the Town's
parks and help reduce the pressure on Kern Reservoir.