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Table 6: Com arison of Water Delive District/Company Costs er Acre-Foot 1999 Delivery Cost er Acre-Foot $14.28 $4.38 $ 7.00 $ 6.37 $ 3.89 $ 7.18 . Finally, the JID is located in Sedgwick County (median household income $19.335.) The largest town is Julesburg, with a population of less than 5,000 (median household income $21,513.) The CWCB has established MHI has "low income" at $24,000 (80% or less of the 1990 State wide average.) Both Sedgwick County and the town of Julesburg are classified as "low income" areas. Refinancing CWCB (Julesburg Reservoir) loan would reduce the loan payment by about $1,000 per year. These funds would be available for future capital expenditures by the District. The loan would payoff in 2026 instead of 2036. Alternative financing considerations: The District actively sought alternative financing. They were able to obtain a grant to cover project planning and design through the NRCS ($11,000), but were not able to obtain cost share for construction through that agency. The JID also requested a $10,000 grant from the Ernest and Lillian Campbell Foundation, but were turned down. The District was offered a loan from their local bank at terms of 6.9% for 30 years, primarily because JID collects its assessments through the county. Collateral: As security for the loan the JID will pledge assessment revenues backed by assessment covenant and other property of value at least equal to the loan amount. This security is in compliance with CWCB Loan Policy #5 (Collateral). Economic Analysis If the project is not completed the annual production of lands in the 7840-acre Peterson Ditch service area would be reduced. The average net yield per acre with water is estimated at $60, compared to a net yield of $25 as dry land. This results in an annual loss of $35/acre x 7840 acres = $274,400. This loss will continue each year until the diversion is repaired or replaced (an additional cost of $145,000.) A major benefit of the project is avoiding the annual economic loss associated with the lack of irrigation water within the Peterson Ditch service area. Social and Physical Impacts The project will have no significant social impacts, since it will assure the continued operation of an existing irrigation system. The project will have minor physical impacts, once construction is complete. The new control structures will be very similar to what currently exists. Julesburg Irrigation District Peterson - Lodgepole Control Structures November 2000 (Updated January 2001) Page 13 of 14