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<br />/. <br /> <br />~ <br /> <br />Colorado Water Conservation Board <br /> <br />DeWeese Dye Ditch Project <br /> <br />DeWeese Dye Ditch and Reservoir Company <br /> <br />February. 1987 <br /> <br />Introduction <br /> <br />The DeWeese Dye Ditch and Reservoir Company (Company) has <br />submitted on January 11. 1988 an application for State funding <br />in the amount of $106.000 on the subject project. The company <br />serves irrigation water to 725 users who own 1.100 acres of <br />land southwest o[ Canon City in Fremont County. <br /> <br />Proposed proiect <br /> <br />In order to eliminate serious seepage losses in the <br />existing open ditch the company needs to install about 3.000 <br />feet of ~2. corrugated metal pipe and 3.000 feet o[ 30. <br />concrete ditch lining. The estimated total cost o[ this <br />project is $212.000 and the company has a commitment [rom the <br />Agricultural Stabilization and Conservation Service (ASCS) [or <br />$106.000. <br /> <br />Proposed Financinq <br /> <br />DeWeese Dye Ditch and Reservoir <br />Company (grant money from ASCS) <br />CWCB loan at 5 percent interest <br /> <br />$106.000 <br /> <br />106.000 <br />$212.000 <br /> <br />Total <br /> <br />Under the proposed financing arrangement. the company would <br />have to pay the CWCB $6.177.68 per year for 40 years for a <br />total repayment of $2~7.l07.20. The $6.177.68 per year would <br />be raised by the company through annual assessment of the <br />shareholders. <br /> <br />Recommendation <br /> <br />The required feasibility study [or this project is being <br />prepared by the Soil Conservation Service (SCS) and the staff <br />cannot evaluate the project at this time. <br /> <br />607~E <br />