BOARD02650 - Laserfiche WebLink

Home Browse Search

~~~:" , , c, Otero Ditch Co. March 20~21, 2000 Agenda Item 9a. "'~ ~ J Water Riahts . The water rights diverted at the ODC headgate consist of direct flow rights and storage water, The direct flow right is for 123 cfs, Average annual total diversions were 20,687 acre-feet for years 1995 through 1998, according to records of the State Engineer's Office. Proiect Description Four alternatives were analyzed in the feasibility study: 1 , The no-action alternative, 2, Reconstruct the diversion only. 3, Reconstruct the diversion and the head gate structure. 4, Reconstruct the diversion and the head gate, and stabilize the river and canal banks, Alternative 2, reconstruct the diversion only was less costly, but was ruled out because it did not deal with damage to the head gate structure. Alternative 3, reconstruct the diversion and the headgate structure was ruled out because it was considered a temporary fix without channel stabilization. For this reason Alternative 4 was selected, since it is considered to be the least costly reliable approach, The no-action alternative was considered unacceptable since it means the ODC could not deliver water to its shareholders. Selected Alternative 4 involves construction of a 257 cubic-yard concrete diversion structure and a 58 cubic~yard concrete headgate structure, It also calls for riprap protection of 2300 feet of riverbank as well as riprap protection of the headgate and canal. . . The implementation schedule calls for completion of financing arrangements in winter 2000, with formal approval and resolution by the ODC shareholders by early spring. Engineering design has been completed and construction is underway. Construction is scheduled to be complete by May 2000. Financial Analvsis The total estimated cost of the project is $ 616,409, and the Federal Emergency Watershed Program will pay 75% of this cost Staff is recommending that the CWCB Board approve an Emergency Loan of $155,000 (25 percent of the estimated cost) Table 1 is a summary of the financial aspects of the project. Annual assessments of $2.00 will be needed to repay a CWCB Emergency Loan of $155,000. (The annual payment plus 10% reserve is $9,860.) This represents $0.48 per acre-foot, based on average annual diversions 20,687 acre-feet. Water is used by the shareholders for agricultural purposes, The ODC would qualify for the CWCB Agricultural Lending rate. The CDC has no existing debt. As security for the loan the CDC will pledge assessment revenues backed by assessment covenant, one payment in a certificate of deposit account to be held by the State, and the project itself. . 2