|
<br />Orphans Wells of \Nigg:r.s LLC
<br />r~(Ne:l1t;::~;' ~9-2,1" 2G03
<br />
<br />Aget-:(ja 118;11 at
<br />
<br />Selected Alternative 3 consists of the following:
<br />
<br />. Drill a recharge well within 100 feet of the South Platte River. Well C'J3pacity will be in the
<br />range of 4.5 and 9 cfs, depending on subsurface cond,tions. ($70,000)
<br />
<br />. Drill an augmentation well 5 miles south of the South Platte River. \',/ell capacity will be
<br />about 6.7 cfs. ($70,000)
<br />
<br />. Construct a 24-incrl pipeline, 5 miles in length, between the recrlarge well and the
<br />augmentation well. ($528,000)
<br />
<br />. Construct 23 new rectlarge ponds with smali earthen dams, on non-irrigated farm
<br />ground, Three of ttle ponds will be construd,,,d off thG nGW pipGlinG. ThG rGmain,ng
<br />ponds will bG constructed off ttlreG different ditch systems (the Bijou, RivGrside, and
<br />'Weldon Valley Ditches), ($230,000)
<br />
<br />. Engineering, surveying, easements. well site land purdwse, contingency, and
<br />miscellaneous costs will be included. ($255,000).
<br />
<br />The Implementat,on schedule calls for complet,on of financ'ng arrangements and final design in
<br />Fall 2003. Construction would be completed 'n Fall-Winter 2003/2004
<br />
<br />Financial Analysis
<br />The total estimated cost of the prOject is $1,153,000 (inciuding engineering costs), and water is
<br />used for agricultural purposes. Staff is recommending a Small Project loan in maximum amount
<br />of $1 ,037,700 (90% of ttle total project cost.) Tile mcommended loan terms are 30 years at
<br />2.5(:/c.
<br />
<br />Table 1 is a summary of the financial aspects 01 the project with a $1,037.700 CVVCB L.oan.
<br />Tile annual payment would be $54,536 (including the 10"% reserve requirement) at the loan
<br />terms of 2.5% for 30 years, This repr-esGnts $9,10 per acre-foot, based on expected annual vvell
<br />diversions of 6,000 acre-feet by the Company shareholders. The Company's cost share w:11
<br />corne from a one-time special assessment of the shareholders.
<br />
<br />Table 1, Financial Summary
<br />
<br />.....mlm~1,1ngCi~~.
<br />
<br />! Project Cost
<br />S.nn.-u..-."nnnn..nnn..n..nnnu,_n_nnnonn un........"""""""""""""~
<br />~ Nurnbor of Shar~1holders
<br />[~~YQ~f~:-_9~~:6::~m~:~~-nt-------- :::::::::::::::::::::::::::::::::::---=,~::::::::::..:::::::::=:=:::_ _____________:::::::::::::::.:-~:~)53}~--j::~\\?:_
<br />1.@~:i~T~~~;:~~;~~~i;i~.~~<:Lei3n1QY-O~ElS,,'Ye1.nnn nn__n-i $54,5~Z..
<br />t7~ew-as-sesst:f;{~rlf:"!"f1(;~)nli~nr;e0dea. withC-~AiCff\:;a.l:1..--..mmnn.mnnnnnnnnn~::-nm~.~--:._J~Q"4"~~~~.~q.
<br />L~~~g:~:~~S~;~:~~J~~~}~~~~:1~~,~~~:d~cf;~~1~~~I~~~J~~;/~3lrte6..J.. "lH3~~~~"
<br />1 Annual to\$1 cost per acre.foot (eve''$ae well dr"e,SRH1S E;,COO o<:AL) i $21.59
<br />
<br />(I'Jote: An add,tional $300,000 ,n engineering and legal expenses will be Incurred by the
<br />Company during the first 3 years of operation, in order to get ttle augmentat,on plan approved
<br />by water court, These expenses wili be paid by Company sn8re~1Olders through special
<br />assessrnent. )
<br />
<br />3
<br />
|