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<br /> <br />" <br /> <br />proposed Project <br /> <br />Fuchs Ranches, Inc., desires to <br />channel erosion problem in an effort <br />earthslide in the area. The project <br />this involves the following: <br /> <br />(1) Removal of existing spillway; <br /> <br />t <br /> <br />correct the spillway <br />to stabilize the <br />required to accomplish <br /> <br />(2) Construction of french drain along bottom of <br />existing spillway channel: <br /> <br />(3) Backfilling the existing spillway channel: <br /> <br />(4) Construction of a new emergency spillway near the <br />existing spillway, and <br /> <br />(5) Removal and reconstruction of a portion of the <br />existing outlet conduit and construction of a <br />service spillway near this conduit. <br /> <br />The estimated cost of this project is $110,000 including <br />engineering, legal and contingencies. <br /> <br />Proposed Financing <br /> <br />The owners have committed to paying for half of the tI <br />project costs and are asking the CWCB for the remalnlng <br />costs. The proposed funding for this project is as follows: <br /> <br />Fuchs Ranches, Inc. <br />CWCB Funds (to be repaid by owners) <br /> <br />Total <br /> <br />$ 55,000 <br />55,000 <br />$110,000 <br /> <br />Onner this financing arrangement, payments to the CWCB <br />would be $3,359 per year for 35 years for a total repayment <br />of $117,565. When the repayment of a commercial loan for the <br />entity's 50 percent share is included, it is expected that <br />the entity would have to pay a total of $9,062 per year <br />(assuming a 10 percent, 35-year commercial loan). <br /> <br />Recommendation <br /> <br />It is recommended that the project as described be <br />recommended by the Board to the General Assembly for <br />authorization subject to the terms of the proposed financing <br />specified above. <br /> <br />2 <br />