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<br />of the District. The District projects a ten-fold increase <br />in housing units over the next 7-8 years. This $2.9 million <br />projected construction cost, when spread over 2500 units, <br />amounts to only about $l,l50 in capital costs per unit. Even <br />with 10 to l2 percent interest rates, $l,l50 amortized over <br />20 to 30 years simply is not a large annual cost. <br />RECOMMENDATION <br />It is recommended that the Board not recommend this proposed <br />project to the legislature for authorization. iihile the use of <br />raw water, rather than treated water, for lawn irrigation is <br />laudable, and while the Board certainly should endorse the <br />development of non-agricultural lands, the staff is of the <br />opinion that the District is not an entity whose financial need <br />is so great as to qualify it, as a matter of policy, for <br />assistance from the Board's construction fund. <br /> <br />BM/sd <br /> <br />-5- <br />