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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <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 about 800 acres, Shareholders at <br />the lower end of the Durkee Ditch 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 diversion structure will be <br />very similar to what exists now, and the new pipeline will be <br />buried and out of view. The portion of ditch which is replaced <br />by the pipeline will be removed and regraded. <br /> <br />Permitting <br /> <br />All easements and rights of way have been arranged for, <br /> <br />The NRCS evaluated the project with regard to wetlands and <br />historic preservation. It was determined that the project will <br />not affect wetlands. See Appendix F. <br /> <br />Financial Plan <br /> <br />The total cost of the selected project is about $112,000. <br />Approximately 60% ($67,200) will come from a cost share agreement <br />through the USDA-NRCS, and 40% ($44,800) is available from the <br />Colorado Water Conservation Board. The DDC has an authorization <br />for up to $120,000 maximum from the Construction Fund. The CWCB <br />will set up the loan contract for the full $120,000 amount to <br />provide funding during construction, Once the project is <br />complete, the NRCS cost share will be available to pay the CWCB <br />loan down to approximately $44,800. This final amount will be <br />financed over a 30 year period, at 3.75%. The annual loan <br />payment will be approximately $2513, or about $5 per share. This <br />represents about $1.44 per acre foot delivered, based on a 1750 <br />acre-foot per year average delivery rate, <br /> <br />The CWCB Loan Application, the CWCB Memorandum of Loan Approval, <br />and the CWCB Approval Letter are found in Appendix C. The USDA- <br />NRCS cost share agreement is included in Appendix F. <br /> <br />The DDC is in strong financial condition, and has no long term <br />debt. The DDC financial statements are found in Appendix E, <br /> <br />A table showing cash flow for a $44,800 CWCB loan at 3.75% <br />interest over a 30-year repayment period is included in this <br />report. <br /> <br />Feasibility Study <br />Rehabilitation of the Durkee Ditch <br />September 1997 <br /> <br />7 <br />