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<br />I <br />I <br />I <br />I <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Social, Economic. and Physical Impacts <br /> <br />The project will have no significant social impacts. <br /> <br />The project will have a positive economic impact by providing <br />irrigation water for 2,000 acres of shareholders' crops, and by <br />providing water for the SSDC and PWI, that also receive water <br />through the ditch. <br /> <br />The project will have no significant physical impacts once <br />construction is complete. The new structure will be very similar <br />to the previous structure. <br /> <br />Permitting <br /> <br />All easements and rights of way are now held by the company. No <br />permits will be required for this repair project. <br /> <br />The company is exempt from 404 permitting by Statutory exemption, <br />33 CFR Section 323.4(a)3. <br /> <br />The company believes no Environmental Assessment (EA) or <br />Environmental Impact Statement (EIS) will be required. <br /> <br />Financial Plan <br /> <br />Sources of financing for the project consist of TMDC cash in <br />amount of $15,000 and a $45,000 loan from the Colorado Water <br />Conservation Board (CWCB). The TMDC application for the CWCB <br />Loan, the CWCB Memorandum of Loan Approval, and the CWCB Approval <br />Letter are found in Appendix G. <br /> <br />The financial condition of the company is solid at the present <br />time. The Company has one outstanding loan in amount of $9,l36 to <br />the Farmer's State Bank of Fort Morgan, and is current on this <br />obligation. Payments are $5696.09 per year, principal and <br />interest. The financial statements for TMDC and SSDC, for 1994 <br />and 1995, are found in Appendix H. <br /> <br />The company has 2000 shares of stock issued and outstanding to 15 <br />stockholders. The annual assessment is $3 per share. If <br />necessary, the company can increase the assessments charged to <br />stockholders, by a majority vote of the stockholders. The TMDC <br />delivered l559.25 ac-ft to its stockholders in water year Nov. <br />1994 to Oct. 1995, so a $3 assessment amounts to about $3.85 per <br />ac-ft. <br /> <br />TMOC has a contract with PWI, under which PWI pays running fees <br />to TMDC. (See Appendix C) . A table of historical income <br /> <br />Feasibility of che Repair of the <br />Tremont ~utual Ditch Company Headgate <br />April 19, 1996 <br /> <br />5 <br />