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<br />Victor and Margie Quint <br />July 28-30, 2003 <br /> <br />Agenda Item 21g <br /> <br />Table 2. Financial Ratios <br /> <br />Financial Ratio Without With <br /> the oroiect The oroiect <br />Operating Ratio (revenue/expense) 134% 134% <br />weak: less than 100% (strong) (strong) <br />average: 100% - 120% <br />strona: areater than 120% <br />Debt Service Coverage Ratio 206% 180% <br />(revenues-expenses)/debt service (strong) (strong) <br />weak: less than 100% <br />average: 100% - 125% <br />strano: oreaterthan 125% , <br />Cash Reserves to Current Expense 5% 5% <br />weak: less than 50% (weak) (weak) <br />average: 50% - 100% <br />strona: areater than 100% <br />Annual Cost per Ac-Ft (1,000 ac-ft well diversions) $15 $15 <br />weak: greater than $20 (average) (average) <br />average: $10 - $20 <br />strona: less than $10 <br /> <br />As security for the loan the Quints will pledge a first interest in 5 acres of land with <br />improvements, located in the SW Y. of Section 31, T5N, R54W. This property includes a house, <br />a shop, sheds, and other farm improvements, and has an estimated valued of $200,000. A <br />Colorado Certified General Appraiser will establish the value, This collateral is in compliance <br />with CWCB Loan Policy #5 (Collateral). <br /> <br />Recommendation <br />Staff recommends a CWCB Small Project Loan in amount of $85,500 to Victor J and Margie J. <br />Quint for up to 90% of the cost to construct the Quint Augmentation site. The recommended <br />loan terms are 30 years at 2.5% (2.577% Annual Percentage Rate). Security for the loan will <br />be collateral in accordance with CWCB loan policy #5 (5 acres of land, including improvements, <br />located in the SW Y. of Section 31, T5N, R54W with value at least equal to the loan amount, as <br />established by a Colorado Certified General Appraiser.) <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all standard <br />contracting provisions of the CWCB, including the 1% loan origination fee charged in <br />accordance with CWCB Policy #16. The loan amount may be increased to $86,355 if the <br />borrower elects to finance the 1 % loan service charge. <br /> <br />cc: Victor Quint <br />Brent Nation, P.E. <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:Proj-NewIQuint 0703 memo: L:lboardmemlJuly03\21g - Quint Farm <br /> <br />4 <br /> <br />. <br />. <br /> <br />, <br /> <br />. <br /> <br />. <br /> <br />. <br />