02000000008 Feasibility Study

• Contract/PO #: 02000000008
• Contractor Name: Lake Canal Reservoir Company
• Contract Type: Grant
• Water District: 0
• County: Larimer
• Loan Projects - Doc Type: Feasibility Study

'
,
'
'
,
,
,
,
'
,
1
'
'
1
,
,
�
,
'
5, 6, and 7. The costs are based on our past experience with similar projects and also from data
supplied by local contractors and suppliers. Quantities were based on surveyed cross sections of
Gray Lake No. 3 and South Gray Lake.
A summary of the costs for the three alternatives, including the engineering fees and
contingencies, is shown in the following table.
TABLE 2
TnTAi. PRn.TFCT C(1ST SiTMMARV
ITEM ALTERNATIVB 1 ALTERNATNE 2 ALTERNATIVE 3
1. Construction Cost $ 11,400 $ 385,700 $ 530,100
2. Engineering Fees $ 6,000 $ 84,800 $ 116,600
3. Contingency � 15 % $ 1,700 $ 57,900 $ 79,500
TOTALS $ 19,100 $ 528,400 $ 726,200
Based on the total project cost above the payment to the CWCB for a 30 year loan at 3.75%
interest would be as follows. The yearly cost per share of stock in Table 3 is the loan payment
divided by 160 shares and the yearly cost per acre-foot is the loan payment divided by 111 acre-
feet.
TABLE 3
LOAN PAYMENTS
ALTERNATIVE LOAN YEARLY YEARLY YEARLY COST
AMOUNT LOAN COST PER PER ACRE-
PAYMENT SHARE OF FOOT OF
STOCK STORAGE
Alternative 1 $ 19,100 NA NA NA
Alternative 2 $ 475,600 $ 26,900 $ 168 $ 242
Alternative 3 $ 653,600 $ 36,950 $ 231 $ 333
THE SELECTED PROJECT
The Lake Canal Reservoir Company has rejected all three alternatives at this time due to the cost.
They will review their options and make a decision during 2001 as to whether to apply at that time
for the loan. Both Alternatives 2 and 3 provide for recovering the full l l l acre-feet of storage that
Gray Lake-Feasibiliry Study Page 7