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<br />I <br />II <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />b~tter justifies the expenditures required. <br /> <br />Treatment is proposed for the I^Jell water to meet rlinimurl health <br />department standards. Blending of the treated and untreated water <br />prior to final chlorination is proposed to minimize cost. <br /> <br />D. FINANCIAL CONSIDERATlmlS <br /> <br />The total project cost for the improvements proposed is $1,800,000. <br />This amount is more than the community can finance without assistance <br />by grant and loan funds from other agencies. Consideration has been <br />given to obtaining funds through the Colorado Water Conservation Board, <br />The Farmers Home Administration and the Four Corners Regional Commission. <br />The Town Board is considering pursuing the financing through the Farmers <br />Home Administration and obtaining necessary supplemental funding from <br />other agencies. From the financial analysis completed, it is estimated <br />that at least 50% of the project cost should be obtained by grants <br />from federal or state agencies to allow the Town to construct the <br />improvements. Based on reasonable rates, new water rates and tap fees <br />will be established to provide the necessary revenue to allow the <br />Town to finance its share of the water system improvements. <br /> <br />The water supply system for the Town is in serious need of improve- <br />ment. Particularly, the water supply source and storage facilities <br />make it imperative that the Town take action immediately to supplement <br />its source of supply and construct needed improvements. We, there- <br />fore, recommend that the Town proceed immediately with the necessary <br />steps to accomplish funding and construction of the project. <br /> <br />PS - 4 of 4 <br />