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<br />Little Thompson Water District - Proposed Dry Creek Reservoir
<br />September 13-14. 2005
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<br />Agenda Item 12a
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<br />Precipitation (PMP) storm event. The spillway will consist of a two-cycle labyrinth weir with width of ..~
<br />41 feet and maximum discharge of 2,266 cfs. Water will be delivered to the proposed reservoir by
<br />gravity and returned to the Filter Plant by pumping through and existing pipeline. The raw water
<br />transmission system consists of the pump station; a 359-foot-long, 24-inch steel waterline between
<br />the dam outlet and the pump station; a 6,524-foot-long, 24-inch ductile iron pipeline to connect the
<br />pump station to the existing 20-inch pipeline owned by the CWCWD at the northwest side of the
<br />reservoir.
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<br />Project costs are considerably higher that those estimated in the original study. The original study
<br />presents a total project cost of $10,500,00, while the total estimated costs are currently
<br />$21,600,000. The cost increase is primarily due to the construction of the larger reservoir including
<br />the additional property acquisition required for the project.
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<br />The Total Project cost is estimated to be:
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<br />TOTAL
<br />
<br />$ 430,000
<br />$6,670,000
<br />$60,000
<br />$14.440.000
<br />$21,600,000
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<br />1.
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<br />3.
<br />3.
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<br />Construction Mgt.
<br />Land Acquisition
<br />Legal Costs
<br />Construction Cost
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<br />Schedule - Final design was submitted to the SEO in February 2005, and they anticipate
<br />completing their review by September 2005. Construction of the project is expected to begin in
<br />October 2005 with completion by October 2006. All nine of the total property acquisitions are
<br />complete and ten of the fifteen partial property acquisitions are complete. TheDistricts have .
<br />possession and use of the five remaining partial acquisitions.
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<br />Permitting - The only deviation from the original study is the Army Corps of Engineers 404
<br />permitting process. During final design, wetlands, and alkali flats were discovered at the site. It
<br />was determined that the wetlands were isolated and, therefore were not considered waters of the
<br />U.S. This determination resulted in a non-jurisdictional wetland ruling. As a result, a 404 permit is
<br />not required. A Location and Extent approval has been obtained from Larimer County.
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<br />Financial Analvsis
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<br />The total estimated cost of the project is $21,600,000 in a 50/50 partnership with the CWCWD, with
<br />each entity's share being $10,800,000. Previously, L TWD's total share was $5,250,000, for which
<br />they were approved for a 75% loan at $3,937,500 with an interest rate of 4.05% per year for 20-
<br />years. The L TWD additional share of the enlarged reservoir project is $5,550,000, of which CWCS,
<br />under Policy #11, can now loan up to 90%. The District qualifies for a blended Municipal
<br />Middle/High Income Interest Rate, and staff is recommending a 20-year maximum amount of
<br />$4,945,500 (89%) at an interest rate of 3.60% per year. The District has budgeted the $1,312,500,
<br />(25% local match for Loan #1), and the $604,500 (11 % local match) needed for their portion of the
<br />project, and the money is in place in reserves for that purpose.
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<br />Table 1 is a summary of the financial aspects of the project. A new CWCS construction loan of
<br />$4,945,500 would have an annual payment of $386,240 (including the 10% reserve requirement) at
<br />the loan terms of 3.60% per year for 20 years.
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