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<br />Bill Porter- Barton Porter Reservoir <br />September 11-12, 2002 <br /> <br />Agenda Item 12b, <br /> <br /> <br />rehabilitation and enlargement of the Barton Porter Reservoir. Golder and Associates have also ... <br />completed an Engineering Design Report as well as a(l Environmental Assessment Report for the ,. <br />project. The State Engineer has approved plans and specifications for construction, <br /> <br />Bill Porter <br />Bill Porter is an individual rancher/farmer. CRS 37-60.119 (2) specifies that the CWCB may <br />make loans to individuals for construction of raw water projects, <br /> <br />Water Riahts <br />Bill Porter owns water storage rights in the Barton Porter Reservoir in amount of 206 acre-feet, <br />with a conditional right for an additional 1 ,000 ac-ft. State Engineer Records indicate that the <br />reservoir was used to capacity in 1999 and 2000. <br /> <br />Project DescriDtion <br />Three alternatives were analyzed in the feasibility study: <br /> <br />1. No Action <br />2. Construct a new reservoir at a lower elevation. <br />3. Enlarge the Barton Porter Reservoir ($2 million) <br /> <br />Alternative 2, Construct a new reservoir at a lower elevation, was ruled out due to lack of a <br />suitable site, and because it would require pumping of reservoir water instead of using the <br />existing gravity fed system. Alternative 3, Enlarge the Barton Porter Reservoir ($2 million) will <br />provide the needed additional storage for most of the, conditional water right and allow <br />continued gravity feed to the existing sprinkler irrigation system. This option is considered the ... <br />preferred alternative. The no-action alternative was considered unacceptable since it would ,. <br />mean the conditional storage right could not be stored for use during periods of drought. <br /> <br />Selected Alternative 3 consists of enlarging the Barton Porter Reservoir by raising the east <br />dam to a height of 69 feet, and by removing the west dam and replacing it with a new dam 83,5 <br />feet in height. A new spillway and outlet will also be Cbnstructed, and the inlet ditch will be <br />relocated to a higher elevation to gravity feed into the reservoir. The new reservoir will have a <br />capacity of 1 ,100 acre-feet and will be a Class 1 stru~ture. <br /> <br />Plans and specifications for this project were submitted to the State Engineer in January 2002, <br />and have been approved. An environmental assessment has also been completed, and a <br />federal permit obtained. Construction started in summer 2002 and is approximately 50% <br />complete. The schedule calls for completion of financing arrangements in early fall 2002, with <br />construction finished by winter 2002/2003. <br /> <br />Financial Analvsis <br />The total estimated cost of the project is $2,000,000 and the borrower is an individual <br />farmer/rancher who intends to use the water for agricultural purposes. The CWCB agricultural <br />lending rate would apply to this borrower, Bill Porter ~as requested a $1 million loan at 2.5% for <br />20 years. This loan would represent 50% of the total project cost. <br /> <br />Table 1 is a summary of the financial aspects of the project. A CWCB Small Project Loan of $1 <br />million would have an annual payment of $70,562 (including the 10% reserve requirement) at <br />the loan terms of 2,5% for 20 years, This represents ,an annual cost of $64 per acre-foot, based ... <br />on the new reservoir capacity of 1 ,100 acre-feet. ,. <br /> <br />2 <br />