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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 />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Poudre River and transfer the water rights from Barnes Meadow Reservoir. The <br />estimated cost of storage at Rockwell ranges from $2,636 per acre-foot for a <br />5,000 acre-feet reservoir to $1,363 per acre-foot for a 17,000 acre-feet <br />reservoir. These costs do not compare favorably with the unit costs per <br />acre-foot of firm annual yield and storage obtained by rehabil itating Barnes <br />Meadow Dam. <br /> <br />Restori ng Barnes Meadow Reservoi r to full unrestri cted operati on woul d not <br />only provide a dependable water supply amounting to 35 percent of the demand <br />during the critical winter period. <br /> <br />Fifty percent of the project cost would be financed through the CWCB <br />construction fund. If approved, the CWCB will loan the City $215,068. The <br />City will repay the loan over..-20 years at a five percent interest rate. The <br />remainder of the project costs could be financed through the sale of bonds at <br />an estimated interest rate of eight percent, or from money accumulated in the <br />Water Department's Capital Replacement Fund. <br /> <br />Si nce operati on and mai ntenance costs wi 11 not be fi nanced, the City water <br />rate may be required to reflect these expenses. A water rate increase of <br />approximately 0.64 percent would be needed to assure repayment, based on 1987 <br />rates. However, if the Capital Replacement Fund is used then a rate increase <br />would not be required. <br /> <br />In concl usi on, the rehabil itati on of Barnes Meadow Dam is techni cally and <br />economically feasible. By removing the present restriction on the reservoir, <br />total storage capacity would be increased to 2,349 acre-feet and firm annual <br />yield increased to 1,406 acre-feet, at a unit cost for firm yield of $306 per <br />acre-foot. This compares favorably with the cost of rehabilitating Twin lakes <br />Dam at $1,816 per acre-foot, Comanche Dam at $974 per acre-foot, or Peterson <br />lake Dam at $749 per acre-foot. Rehabilitating Barnes Meadow Dam is the most <br />economical alternative available to the City for increasing storage. <br /> <br />E-ll <br /> <br />1151c <br />