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• Cedaz Mesa Ditch and Reservoir Co. (CMDRC) — project management and <br />construction <br />. Delta Sand and Gravel — drain material supplier and construction <br />• Colorado Water Conservation Boazd (CWCB) — financing and construction <br />. Knight Piesold and Co. — feasibility study, design, and construction <br />The CMDRC is the lead for all aspects of the project. Knight Piesold will assist CMDRC by <br />completing this feasibility study, designing the rehabilitation, and acting as liaison with <br />regulatory agencies and the CWCB. Delta Sand and Gravel has been identified as the preferred <br />supplier of drain material for the project. They may also perform pazt of the construction. The <br />funding is to come from the CWCB pending board approval on July 23, 2001, The CMDRC has <br />applied for both a grant and a construction toan from the CWCB. The CWCB loan and grant <br />applications have been included in Appendix E, and the CMDRC financial statements have been <br />included in Appendix F. <br />9.0 Financial Analysis <br />The total estimated cost of the project is $131,962, which includes $100,000 from Table 5.1; <br />$8,920 for previous piezometer installations; $13,342 for previous engineering and soils <br />analysis; and $9,720 for the feasibility study. The water is used by the shareholders for <br />agricultural purposes. We understand that the CWCB staff is recommending a loan from the <br />Small Project Account in the maximum aznount of $100,000 (about 76 percent of estimated <br />project cost). The loan terms would be the standazd CWCB agricultural rates (30 years at 3.5 <br />percent, 20 yeazs at 3.25 percent, or 10 years at 3 percent) at the borrower's option. <br />10.0 A/ternative Financing Sources <br />The CMDRC actively sought alternative financing. They were able to obtain a$6,000 grant from <br />the Colorado River Water Conservation District and two additional loans totaling $16,500 to <br />help cover engineering, piezometer installation, and soils analysis for the project. The CWCB <br />will provide a grant to pay one-half the costs of the Feasibility Study and initial planning up to a <br />maximum of $5,000. The Company also requested a loan from its local bank (The Surface <br />Creek Bank), but the terms of 835 percent for five years (included in Appendix G) would have <br />resulted in payments that made the project infeasible. Table 10.1 is a summary of financing for <br />the project: <br />G\wpwork�1B00s\1035A\CetlarMeSaFeasibilityRepoM1tloc J Ju1y2001 <br />