PROJ00192

• Contract/PO #: C153316
• Contractor Name: Winter Park Water and Sanitation District
• Contract Type: Loan
• Water District: 0
• County: Grand
• Bill Number: SB 77-35
• Loan Projects - Doc Type: Feasibility Study

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officials we estimate that additional development in the District will
ultimately include a motel accommodating as many as 552 persons (plans
for which are well underway); 875 additional condominium/apartment/motel
units, 71 single-family units, lodge facilities for 475 persons, 70,000
square feet of commercial space, and miscellaneous recreation facilities.

,

FINANCING ALTERNATIVES

Alternatives for financing the project include General Obligation Bonds,

a low-interest, long-term loan and/or grant from the Farmers Home Admini-

stration, and a low-interest, long-term loan from the Colorado Water

Conservation Board or combinations of the above. We have estimated the

required rate structure under four different financing plans as follows:

Financing Alternative

*Estimated Equivalent
Single-family Monthly
Service Charge

1. Assumes $300,000 FHA grant; 340,000 FHA, 5%,
30-yr loan; $750,000, 3%, 30-yr CWCB loan
with estimated appropriate interest during
construction.

$7.76

2. Assumes $300,000 FHA grant; $450,000 FHA, 5%,
30-yr loan; $750,000, 4%, 30-yr CWCB loan
with estimated appropriate interest during
construction.

$8.44

3. Assumes no grant; $750,000,8~%, 20-yr GO bonds;
750,000, 4%, 30-yr CWCB loan with estimated
appropriate interest during construction.

$14.64

4. Assumes no grant; $1,500,000, 9%, 20-yr GO
bonds with estimated appropriate interest
during construction.

$19.78

* Includes allowance for interest during construction (see'page VI-4).

The above estimates assume full
land phased in over ten years.
or if any of the assumed initial
higher rates would be necessary.

development of all reasonably developable

If the growth does not occur as projected,

customers do not participate, then even

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