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<br />", <br /> <br />Proposed Project <br /> <br />Fuchs Ranches, Inc., desires to correct the spillway <br />channel erosion problem in an effort to stabilize the <br />earthslide in the area. The project required to accomplish <br />this involves the following: <br /> <br />(1) Removal of existing spillway, <br /> <br />(2) . Construction of french drain along bot tom of <br />existing spillway channel: <br /> <br />(3) Backfilling the existing spillway channel, <br /> <br />(4) Construction of a new emergency spillway near the <br />existing spillway, and <br /> <br />(5) Removal and reconstruction of a portion of the <br />existing outlet conduit and construction of a <br />service spillway near this conduit. <br /> <br />The estimated cost of this project is $110,000 including <br />engineering, legal and continqencies. <br /> <br />Proposed Financing <br /> <br />The owners have committed to paying for half of the <br />project costs and are aSking the CWCB for the remalnlng <br />costs. The proposed funding for this project is as follows: <br /> <br />Tot al <br /> <br />$ 55,000 <br />55,000 <br />$110,000 <br /> <br />Fuchs Ranches, Inc. <br />CWCB Funds (to be repaid by owners) <br /> <br />Under this financing arrangement, payments to the ewCB <br />would be $3,359 per year for 35 years for a total repayment <br />of $117,565. When the repayment of a commercial loan for the <br />entity's 50 percent share is included, it is expected that <br />the entity would have to pay a total of $9,062 per year <br />(assuminq a 10 percent, 35-year commercial loan). <br /> <br />Recommendation <br /> <br />It is recommended that the project as described be <br />recommended by the Board to the General Assembly for <br />authorization subject to the terms of the proposed financing <br />specified above. <br /> <br />2 <br />