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<br />e <br /> <br />e <br /> <br />COST ESTIMATE <br /> <br />The estimated cost to construct the darn is shown in Table 3. The <br />unit costs are based upon average construction costs. <br /> <br />An amount of 30% is added for contingencies, .which is slightly <br />higher than the normal 20% because the unit costs are not firm. <br />Engineering and administration is estimated at 15% which includes <br />preparation of plans and specifications and construction <br />observation. <br /> <br />The dam and reservoir would be on private land that is estimated to <br />cost $10,000 per acre. Also, a line item for environmental permits <br />is included for $250,000 because of the high visibility of the darn <br />and reservoir. <br /> <br />The recent experience of the Colorado River Water Conservation <br />District in obtaining permits and agreements to construct a <br />reservoir near the Colorado River does not bode well for timely <br />construction of dams such as Sarns Knob. Since the reservoir is <br />relatively smallr it may have fewer problems. <br /> <br />FINANCING <br /> <br />The District will require financing to construct the darn. Table 4 <br />shows two financing options assuming 100% funding by the eweB, both <br />options are standard CWCB loan terms as of December, 1993; the <br />terms change with national interest rates. Either Option is <br />recommended, the choice will be based upon the District's repayment <br />ability. <br /> <br />The District's current capital debt is paid off in 1998 and would <br />be in a financial position to repay the darn and reservoir. <br /> <br />SarnS Knob Darn <br /> <br />11 <br />