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<br />Raising the dike crest involves raising six sections of the <br />dike from 0.3 ft. to 1.0 ft. in order to have 3 ft. of freeboard. <br />The six sections are 860 feet in length. <br /> <br />Summi t Reservoir has, two outlets, west and east; the west <br />outlet has not been used in many years and is in disrepair. <br />Summit decided to plug the west outlet rather than repair' it to a <br />workable condition. Abandonment of the outlet will entail plug- <br />ging the pipe with concrete and backfilling the pond below the <br />outlet with a filter blanket and common material. The outlet was <br />plugged in September 1983 and is therefore not part of this study; <br />however, the backfill below the outlet is included. <br /> <br />Finally, the south dike has three sections; east, west, and <br />middle. The middle section has two locations where water is <br />seeping through the foundation and the embankment. In order to <br />assure the integrity of the dike, a filter blanket will be placed <br />over the middle section of the south ,dike beginning at the crest <br />and extending about 60 ft. from the toe. <br /> <br />The costs of each of the-four items are summarized below: <br /> <br />Item <br /> <br />Cost <br /> <br />1) Recontouring <br /> <br />$ 9,782.00 <br /> <br />2) Raise dike crest <br /> <br />2,408.00 <br /> <br />3) Backfil below west outlet <br /> <br />5,176.00 <br /> <br />4) Place filter blanket <br />on middle south dike <br /> <br />TOTAL <br /> <br />52,634.00 <br />$70,000.00 <br /> <br />Construction on the four items could be accomplished in a <br />month's time and are scheduled for August or September 1984. <br /> <br />"'\ <br />/ <br />;/ <br /> <br />No additional benefits will be derived from this action so a <br />benefit to cost analysis was not performed. The financial analy- <br />sis, rather, centers on the ability of Summit to repay the CWCB <br />funds and other necessary loans. The repayment ability of Summit <br />was estimated at $105 per share per year; currently each share is <br />assessed $90. . ' <br /> <br />There are three sources of funds for the construction of the <br />improvements. The,CWCB will fund, if approved, 50% or $35,000.00 <br />at a service charge of 5% for 40 years. Summit anticipates having <br />about $10,000.00 in cash to utilize. The remaining $25,000.00 <br />will come from a loan with the wichita Bank of Cooperatives. <br />Summit presently has a loan with the wichita Bank which has a <br />remaining balance of $25,327.00 as of September 1, 1983. The old <br />loan will be refinanced and combined with the additional amount <br />for a total of $50,327.00, that will be financed for 15 years at <br /> <br />-2- <br />