C153795 Feasibility Study - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I However, this impact is mitigated by the fact that the project will assure continued delivery of irrigation water to USers on the north end of the system, and will solve the problem of flooding of residences along 35 road. The project will have no significant physical impacts once construction is complete. The pipeline will be below grade and not visible, except for the inlet and outlet structures. Permitting All easements and rights of way have been arranged for. The FIDC has a permit from the county to install the buried pipeline along 35 road. Financial Plan The total cost of the project is $48,000. .$25,000 will come from a loan with the Colorado Water Conservation Board, and $23,000 from a grant from the USDA Farm Services Agency. The CWCB loan payment will be $1,402 per year. This represents an additional annual assessment of $ 1.75 per share on the 800 shares outstanding, and about $ 0.09 per acre foot, based on average diversions of 15,000 acre feet per year. The CWCB Loan Application, the CWCB Memorandum of Loan Approval, and the CWCB Approval Letter are found in Appendix D. The FIDC has no debts at this time, and is in good financial condition. FIDC Financial Statements are included in Appendix E. A table showing cash flow for a $25,000 CWCB loan at 3.75% interest over a 30-year repayment period is included in this report. Collateral 1. The FIDC can offer a collateral interest in assessments collected from its shareholders to repay the debt, if approved of the shareholders. 2. The FIDe can offer one payment in a certificate of deposit account, to be held by the State Treasurer, if approved by vote of the Board of Directors. Feasibility Study Farmers Independent Ditch Rehabilitation October 1997 6