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<br />A unique feature of this project is that the excavation for <br />the reservoir would exceed the embankment fill by about 750,000 <br />cubic yards, This excess material would be placed on adjacent <br />land through an agreement bet~een the city and the landowner. <br /> <br />A potential problem with &ubsidence could exist since the <br />reservoir lies over an abando~ed coal mine. This problem has <br />been addressed in a study by Chen and Associates, Inc., a soils <br />and foundation consultant. Tne results of this study indicate <br />that there will be no problem, Further deep drilling will be <br />required to confirm this. <br /> <br />Due to the nature of this project, it <br />construction could not begin before 1984. <br />cost at that time is $3,562,000. <br /> <br />is anticipated that <br />The total estimated <br /> <br />proposed Financing <br /> <br />The proposed funding for the project would be: <br /> <br />Private funds (obtained by City) <br />ewCB funds (to be repaid by water user fees) <br />Total <br /> <br />$1,781,000 <br /> <br />1,781,000 <br /> <br />$3,562,000 <br /> <br />Under this financing arrangement, charges would be levied by <br />the ewCB at the rate of $103,797 per year for 40 years for a <br />total repayment of $4,151,880, <br /> <br />Recommendation <br /> <br />It is recommended that th~ project as described be recom- <br />mended by the Boa~d to the General Assembly for authorization <br />subject to the terms of the proposed financing specified above. <br />