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<br />. <br /> <br />. <br /> <br />. <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 />additional irrigation water for 1920 acres. Shareholders at the <br />lower end of the Decker Lateral will have enough water in low <br />water years to adequately irrigate their crops. <br /> <br />The project will have no significant physical impacts once <br />construction is complete. The new ditch system will be very <br />similar to ,what exists now. <br /> <br />Permitting <br /> <br />All easements and rights of way have been arranged for. The DLC <br />has approval from the county to cross 70 Road. <br /> <br />The NRCS evaluated the project with regard to wetlands and <br />historic preservation. It was determined that there will be no <br />net effect on wetlands. One historic site (a well pump location) <br />was designated for preservation. <br /> <br />Financial Plan <br /> <br />The total cost of the project is $143,300. $68,150 will come <br />from a grant from the Farm Services Agency (FSA) , and up to <br />$100,000 is available from the Colorado Water Conservation Board <br />from the Small Project Loan Account. The CWCB will set up the <br />loan contract for the full $100,000 amount to provide funding <br />during construction. The Company will provide funds during <br />construction for all costs over $100,000. Once the project is <br />complete, the FSA grant will be available to pay the CWCB loan <br />down to approximately $75,000. This final amount will be <br />financed over a 30 year period, at 4.25%. The loan payment will <br />be approximately $4470, or about $53 per share. This represents <br />about $3 per acre foot delivered. <br /> <br />The CWCB Loan Application, the CWCB Memorandum of Loan <br />and the CWCB Approval Letter are found in Appendix C. <br />pooling agreement is included in Appendix D. <br /> <br />Approval, <br />The FSA <br /> <br />The DLC is in strong financial condition, and has no long term <br />debt. The DLC financial statements are found in Appendix E. <br /> <br />Tables showing cash flow for a $100,000 and for a $75,000 CWCB <br />loan at 4.25% interest over a 30-year repayment period are <br />included in this report. <br /> <br />Feasibility Study <br />Rehabilitation of the Lower Decker Lateral <br />July 1997 <br /> <br />7 <br />