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<br />. <br /> <br />~~Weese-Dye Ditch <br /> <br />Introduction <br /> <br />The DeWeese-Dye Ditch Company (Company) has 747 <br />shareholders (7,248 3/4 active shares) who irrigate 1100 acres <br />of land comprised of tracts which vary in size from 1/2 acre to <br />160 acres. The ditch was constructed in 1895 and has served <br />the Lincoln Park area of Canon City continuously since that <br />time. <br /> <br />Problem <br /> <br />The soil Conservation Service (SCS) has prepared a report <br />on the DeWeese-Dye Ditch as a part of the Sangre de Cristo <br />Resource Conservation and Development Project. This report <br />identifies eight reaches of the ditch which are experiencing <br />excessive seepage loss, overtopping. and flooding problems. <br /> <br />Proposed Proiect <br /> <br />The CWCB staff evaluated the feasibility study for this <br />project, and has determined that the project is technically <br />feasible. The recommended solution to the Company problems <br />involves a combination of ditch paving and pipeline <br />installation, the plans for which are currently being designed <br />by the SCS. The estimated cost for this project is $212.000. <br /> <br />. Proposed financinq <br /> <br />DeWeese-Dye Ditch & Reservoir Co. <br />(Grant money from ASCS) <br />CWCB Loan (to be repaid by water users) <br />Total <br /> <br />$106,000 <br /> <br />106,000 <br />$212,000 <br /> <br />Under the proposed financing the Company would have to pay <br />the CWCB $6,177.68 per year for 40 years for a total repayment <br />of $247,107.20. These payment5 would be raised by the Company <br />through annual assessments of .he shareholders. <br /> <br />The matChing funds of $106,000 is grant moneys made <br />available by ASCS. <br /> <br />The present ditch assessment is $8.00 per share. With 7248 <br />3/4 shares active, that indica.es an expected annual income of <br />$56,990. Historically the company has been experiencing a <br />share assessment payment of about 96.5% or $55,960. Not <br />including major construction projects. the Company's annual <br />budget runs about $42,500. This would leave a balance of about <br />$13,500 per year for major improvements. <br /> <br />Since the loan yearly repayment is only $6,177.68 the staff <br />has concluded that the project is financially feasible. <br /> <br />. <br /> <br />JWM/gl <br /> <br />8090E <br />