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<br />'" , <br /> <br />Chilcott Ditch Co. <br />November 22-23,1999. Agenda Item 14a. <br /> <br />1""; <br />e <br /> <br />Water Riahts <br />The water rights diverted at the COC head gate consist of 9 rights with dates of appropriation <br />ranging from 1863 to 1905 and totaling 104 cfs. The COC owns 3 of these rights totaling 78.58 <br />cfs. All are direct flow rights out of Fountain Creek. Records of the State Engineer's Office <br />indicate that total average annual diversions are 7,425 acre-feet, based on record years 1991 <br />through 1997, and that the maximum diversion rate was 49.5 cfs for record years 1996, 1997, <br />and 1998. <br /> <br />Proiect Description <br />Four alternatives were analyzed in the feasibility study: <br /> <br />1. The no-action alternative. <br />2. Reconstruct the diversion using steel sheet piling ($900,000). <br />3. Reconstruct the diversion using roller compacted concrete ($1.5 million). <br />4. Reconstruct the diversion using grouted rock ($1 million). <br /> <br />Alternative 2, reconstruct using steel sheet piling, was ruled out because of the potential for <br />large buried rock in channel bottom. Alternative 3, reconstruct using roller compacted concrete, <br />was ruled out due to cost. For this reason Alternative 4 was selected, since it is considered to <br />be the least costly reliable approach. The no-action alternative was considered unacceptable <br />since it means the COC could not deliver water to its shareholders. <br /> <br />Selected Alternative 4 involves construction of a grouted rock diversion structure. This structure <br />will be anchored into the riverbed and have wing walls of steel reinforced concrete. An <br />emergency spillway section will be constructed around the right abutment and armored with a <br />riprap. .. <br /> <br />The implementation schedule calls for completion of financing arrangements in 1999, with <br />formal approval and resolution by the COC shareholders in December 1999. Engineering <br />design will be finalized by the NRCS in January 2000, and construction is scheduled for <br />completion by May 2000. <br /> <br />Financial Analvsis <br />The total estimated cost of the project is $ 1 million, and the Federal Emergency Watershed <br />Program will pay 75% of this cost. Staff is recommending that the CWCB Board approve an <br />Emergency Loan of $250,000 (25 percent of the estimated cost.) <br /> <br />Table 1 is a summary of the financial aspects of the project. Annual assessments will increase <br />from $125 per share, up to $276 per share with an Emergency Loan of $250,000. This <br />represents an annual assessment increase of $151, or $2.14 per acre-foot, based on average <br />annual diversions 7,425 acre-feet. <br /> <br />Water is used by the shareholders for agricultural purposes. The COC would qualify for the <br />CWCB Agricultural Lending rate. The COC has no existing debt. <br /> <br />As security for the loan the COC will pledge assessment revenues backed by assessment <br />covenant, one payment in a certificate of deposit account to be held by the State, and the <br />project itself. <br /> <br />e <br /> <br />2 <br />