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<br />- - '-= <br /> <br />UTE WATER CONSERVANCY DISTRICT <br />PROJECT (CONT'D) <br /> <br />contingencies is $29,692,750. <br /> <br />EECQ!:!!:!ID!!2~nQ!! <br /> <br />The residents within the Ute Water Conservancy District will be <br /> <br />partly relieved from some of their problems, when Phase I, now under <br /> <br />construction is completed. <br /> <br />It is also anticipated, that those <br /> <br />problems (inadequate water supply for fire protection and water short- <br /> <br />ages during peak demand periods) will be improved when the proposed <br /> <br />Phase II of the project is constructed. <br /> <br />Preliminary contacts' with the Farmers Home Administration has <br /> <br />been made and there is a probability that a portion of the required <br /> <br />financing may be obtained from that agency. <br /> <br />The proposed overall financing for the project is as follows: <br /> <br />Federal grants and loans and/or <br />other funds <br /> <br />$21.192,750 <br /> <br />State funds (to be repaid by <br />use charges) including <br />$1,000,000 already available <br /> <br />$ 8,500,000 <br /> <br />$29,692,750 <br /> <br />Under the proposed financing, and this years proposed state funding of <br /> <br />$7,500,000,the district would have to repay the state $433,725 per year <br /> <br />for thirty years for a total repayment of $13,011,750. Annual payments <br /> <br />would be generated by water sales with an estimated average bill of <br /> <br />about $20 per tap. <br /> <br />It is recommended that .the project, as described, be funded by the <br /> <br />CWCB to the extent of $8,500,000 total (includes $1,000,000 already <br /> <br />appropriated under SB67, 1980). The balance of $21,192,750 will be <br /> <br />obtained by the district from other funding sources. The staff recommends <br /> <br />that the project be submitted to the Colorado General Assembly for <br /> <br />authorization and funding during the 1981 session. <br /> <br />- 4 - <br />