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<br />. <br /> <br />assuring annual diversion of approximately 34,000 acre-feet of <br />water for irrigation and as indicated on page 6 under alternative <br />1, the reverse of this situation is not acceptable to the <br />Company. <br /> <br />. <br /> <br />The project will have no significant physical impacts once <br />construction is complete. The new diversion structure will occupy <br />the same area as what exists now and will be about the same size <br />and shape. <br /> <br />Permitting <br /> <br />All easements and rights of way have been arranged for. <br /> <br />The Company expects to be exempt from 404 permitting by Statutory <br />exemption, 33 CFR Section 323.4(a)3. This will be confirmed with <br />the Omaha District, Army Corps of Engineers. <br /> <br />. <br /> <br />Financial Plan <br /> <br />The total cost of the project is $374,000. $336,600 or 90% may <br />come from a loan with the Colorado Water Conservation Board, and <br />the remainder from the project sponsor, JLRIC. The CWCB Loan <br />Application is found in Appendix D. <br /> <br />The JLRIC is in strong financial condition, and currently has no <br />long term debt outstanding. <br /> <br />. <br /> <br />A $336,600 CWCB loan at 3.75% interest over a 30-year repayment <br />period would calculate to an annual payment of $18,706.20. The <br />loan payment of $18,706.20 amounts to an additional assessment of <br />$12.07 per share or approximately $0.55 per acre feet diverted. <br />The $12.07 will be added to the existing share assessment of <br />$60.00 bring the JLRIC yearly assessment to $72.07 per share. <br />This increase will stay in effect throughout the duration of the <br />loan. The JLRIC currently brings in approximately $99,000 a year <br />and spends on an average $97,000 a year. The increased assessment <br />will bring in the extra revenue needed to cover the CWCB payment. <br />This financial analysis should stay consistent over the period of <br />the CWCB debt retirement. <br /> <br />. <br /> <br />The JLRIC will increase its share assessment to raise the <br />Company's portion of the project cost, $37,400. This amount will <br />come from an increase of $24.13 in the 2000 JLRIC assessment. <br />This increase will be only for the one year, 2000. <br /> <br />Feasibility Study <br />Jackson Lake Reservoir and <br />Irrigation Company Diversion Structure <br />September 1999 <br /> <br />10 <br /> <br />. <br />