C153771 Feasibility Study - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I Social, Economic, and Physical Impacts The augmentation plan will have no negative social impacts. The augmentation plan will have a positive economic impact of about $4.2 million by allowing the continued irrigation of approximately 5330 acres. The augmentation plan will have no physical impact. Permitting The augmentation plan must be approved by the State Engineer and the Water Court. The augmentation plan does not involve any construction. There are no wetlands that will pe affected by the augmentation plan. No Environmental Assessment (EA) or Environmental Impact Statement (EIS) will be required. Financial Plan Financing for the project consisrs of an $825,000 loan from the Colorado Water Conservation BoarO (CWCB). The loan payment will be $30,158 for the first 5 years, and $37,059 for the remaining 35 years. The interest rate is 3% over the 40 year term. The loan payment for the first 5 yea~s will amount to $3.77 per acre foot pumped, based on an 8000 ac~e foot per year pumping rate. After 5 years the cost increases to $4.63 per acre foot pumped. (See Appendix C.) Loan payments will come from membership dues and assessments collected by the HCWUA. The HCWUA collected over $144,000 in 1996. The HCWUA financial statements are included in Appendix F. The HCWUA has about $78,000 in current debt. This will be paid off by the CWCB loan. Table 1 shows cash flow for the $825,500 CWCB loan at 3% interest over a 40-year repayment period, with loan payments escalating from $30,158 to $37,059 after the 5th year. Collateral The HCWUA has the following collateral it can offer for the CWCB loan: 1. An interest in the membership dues and assessments collected by the HCWUA to retire the debt. This could be approved by a vote of the membership, and the Board of Directors. 6