PROJ00150

• Contract/PO #: C150116
• Contractor Name: B.F. & M.E. Porter, LLLP
• Contract Type: Loan
• Water District: 45
• County: Garfield
• Bill Number: SPL
• Loan Projects - Doc Type: Feasibility Study

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Permitting:

All easements and rights~of-\Vay have been arranged. The Bureau of Land lvlanagement (BLM)
has also approved the project as a small ponion of the east dam and the reservoir is on BL\l
propert:", The Barton Porter Reseryoir Expansion is exempt from 404 permitting. which has
been confirmed with the Army Corps of Engineers.

Institutional Considerations

Entities that are. or may be, involved in the design. construction. and financing oflhe project
include;

. Bill and Barton Porter; financing. construction. and project management
. Porter Seed and Cattle Inc.; construction
. Golder Associates Inc.; design and construction. and
. Colorado Water Conservation Board (eWeR); financing.

Bill and Barton Porter will be the lead for the financing, design. and construction of the project
and will be the entity entering into contracts and agreements with the various other entities for
services provided by each.

Financial Analysis

Two entities will be involved in financing the estimated total project cost of$2 million. Bill and
Banon Porter are jointly applying for a loan from the eWCB in the amount of S I million. The
actual or estimated amounts by enrity are given in Table 4.

T:lblc.t. Sources of Funding

Eutit)" Private Loan Percent
Participation
CWCB $0 S I ,000,000 50%
Bill and Barton SI.OOO.OOO SO 50%
Porter
Totals SI,OOO,OOO SI,OOO,OOO 100% - $2,000.000

Bill and Barton Porter will cover any costs that exceed the esrimared project cost. They are
requesting a 20-year loan from the CWCB. The standard agricuhurallending rate included in the
CWCB loan application would be 2.5%. resulting in annual payments of approximately 564.000.

Table 5 summarizes the financial aspects of the project.

Bill andB3non POl'k'f
ResCO'oirhpansionFeasitlilil]oSlud)
AugllSI200~
l'IJ:r..:-"S'OJeqIJ]Olo(l:12)~8 0101 ~ DOC

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