C153792 Feasibility Study - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I The project will have no significant physical impacts once construction is complete. The new diversion structure will be very similar to what exists now. Permitting All easements and rights of way have been arranged for. The Company expects to be exempt from 404 permitting by Statutory exemption, 33 CFR Section 323.4(a)3. This will be confirmed with the Omaha District, Army Corps of Engineers. Financial plan The total cost of the project is $250,000. $188,000 will come from a loan with the Colorado Water Conservation Board, and the remainder from the project sponsor, WVDC. The CWCB Loan Application, the CWCB Memorandum of Loan Approval, and the CWCB Approval Letter are found in Appendix D. The WVDC is in strong financial condition, and currently has no long term debt outstanding. A table showing cash flow for a $188,000 CWCB loan at 3.5% interest over a 20-year repayment period is included in this report. The loan payment of $13,227.88 amounts to an additional assessment of $20.67 per share, or about $0.29 per acre foot diverted. The WVDC increased the share assessment to $120 for 2 years to raise approximately $75,000 to cover the Company's portion of project cost. The share assessment will be reduced to about $80, which includes the $20.67 needed to cover the CWCB loan payment. Collateral 1. The WVDC can offer a collateral interest in assessments collected from its shareholders to repay the debt, and the project itself, if approved of tUe shareholders. 2. The WVDC can offer one account, to be held by the of the Board of Directors. payment in a certificate of deposit State Treasurer, if approved by vote Feasibility Study Weldon valley Ditch Diversion Structure July 1997 6