C153755 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 - 6. 7. 8. 9. 10. II. 12, 13. Install Knife Valves Repair Valves and Operators Construct 30" Cone Valve Penstock Design and Construct Hydraulic System Install Hydraulic Lines Install Fixed Cone Valve Demobilization Project Operational 4/15197 4/28197 4/28/97 51 1/97 5/10/97 5/10/97 5/15197 5/15197 SOCIAL, ECONOMIC, AND PHYSICAL IMPACTS The project will have no significant social impacts. The project will have a positive economic impact providing irrigation water for 13,400 acres of shareholders' crops. The project will have no significant physical impacts. PERMITTING All easements and rights of way are now held by the company. No permits will be required for this repair project. The company and the Engineer believe no Environmental Assessment (EA) or Environmental Impact Statement (EIS) will be required. No work is being conducted below the high water line and no physical changes are anticipated within the reservoir drainage basin. FINANCIAL PLAN Sources of financing for the project consists of a $335,000 loan from the Colorado Water Conservation Board (CWCB). A portion of this loan ($200,000) is the remaining amount of a 25- year, $400,000 loan at 3% interest that was approved by the Sanchez Ditch and Reservoir stockholders on April 24, 1992. The additional $135,000 will also be funded by a 25-year CWCB loan at 3.75% approved by the CWCB at their May 13, 1997 meeting. The $135,000 will cover 75% of the projected additional $180,000 cost of the project. The remaining 25% ($45,000) is to be funded by the Sanchez Ditch and Reservoir Company. Revenue for operations and payment of loans is derived from assessment of 21,802 shares of outstanding stock. Assessments are presented to stockholders and approved at the annual stockholders meeting on the first Wednesday of March of each year. The 1996 assessment was 8