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I I I I I I I I I I I I I I I I . ~ ~ ~ The outlet conduit for Eider Reservoir is also a wood stave pipe that was installed when the dam was constructed, The downstream portion of this pipe is in fair condition, however, a portion of the upstream end that can be viewed indicates it may be severely deteriorated. It is recommended that the outlet conduit be removed and replaced with a CO[lcrete pipe and new concrete cO[ltrol structures and gates, Due to the number of structures requiring repair and the total cost, we recommend the Company spread the projects out over a period of seventeen years with a new project starting every three years. The alternatives recommended for each structure and tl1e cost of the repair of each are shown in the table below, PROJECT CONSTRUCTION COST SUMMARY Item Alternative Cost I. Poudre Valley Canal Section 1 PVC LINER $ 187,250 Poudre Valley Canal Section 2 PIPE+,LINER $ 534,900 $721,150 2, Cobb Lake Pipeline REPLACE $510,450 3, Cobb Lake Outlet Conduit REPLACE $ 487,150 4, Cobb Lake Inlet Structure REPLACE $ 221,750 5, Windsor Reservoir No, 8 Outlet REPLACE $451,150 Annex NO, 8 PIPE LINER $ 46 000 $497,150 6, Elder Reservoir Outlet REPLACE $ 183,250 TOTAL COST $2,621,900 The total cost of the project including interest, engineering, legal fees, and 10% contingency IS $5,287,107 which is $176 per share of stock per year for a cost of $5,83 per acre-foot of water per year. We would recommend the Company apply for a loa[l of $2,557,000 which is approximately 75% of the total project cost [lot including interest. For a loan period of 30 years at 4 % interest, the annual payment would be $147,833, The increase in assessments of approximately $176 per share to fund the total project is similar to the increases the Company l1as absorbed in recent years for other rehabilitation projects, 11.