Laserfiche WebLink
<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 />II <br />'I <br />,I <br />, <br />I <br />I <br />I <br />I <br />I <br /> <br />There will be positive and negative economic impacts. Although shareholders of the ODC <br />will be impacted with increased assessments for construction and loan repayment, the <br />project will have a long-term positive impact by assuring annual diversion of water. This <br />will maintain income from crop production, and associated land values. <br /> <br />The project will have no significant physical impacts once the construction is complete. <br />The new diversion structure and headgate structure will occupy the same area as the <br />original diversion, and will be about the same size and shape. <br /> <br />Permitting <br /> <br />All easements and rights of way have been arranged for. The OCD will need to access <br />the project across private lands, and will be responsible for reclamation once the project <br />is complete. <br /> <br />Financial Plan <br /> <br />The total cost of the project is $658,009, including the value of engineering provided by <br />the NRCS. The cost of construction alone is $616,409 and the Federal Emergency <br />Watershed Protection Program will pay 75% of this cost with the remainder provided by <br />an Emergency Loan from the CWCS. The CWCS Loan Application and Memorandum of <br />Loan Approval are found in Appendix D. <br /> <br />Table 2. Sources of Funding <br /> <br />Entity Grant Loan Percent Participation <br />NRCS-Engineering and Design $41,600 $0 6% <br />NRCS-EWP Project Cost Share $462,307 $0 70% <br />CWCS $0 $155,000 24% <br />OCD> $0 $0 0% <br />Totals $503,909 $155,000 100% <br /> <br />> The ODe will cover any costs that exceed the estimated project cost. <br /> <br />The ODC is requesting a 30-year Emergency Loan from the CWCS in a maximum <br />amount of $155,000. The standard agricultural lending rate would be 4%, resulting in <br />annual payments of $8,964. To this would be added $896 per year for the first 10 years <br />to fund the emergency reserve account, for a total annual cost of $9.860. <br /> <br />Table 3 is a summary of the financial aspects of the project. Annual assessments will <br /> <br />Otero Ditch Company <br />Diversion Structure Feasibility Study <br />February 2000 <br /> <br />Page 11 of 20 <br />