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<br />e <br /> <br />The feasibility study shows that the Webster Hill project is <br />technically, economically, and environmentally viable. The initial <br />investigations did not reveal obstacles that would prevent <br />construction and operation of the dam, reservoir, and hydropower <br />plant. It is recommended that Phase II of the project -- preparing, <br />processing, and obtaining the permits and licenses for the project -- <br />begin immediately. <br /> <br />PROJECT SCHEDULE <br />The Webster Hill project is being developed in three phases. Phase I <br />was the project feasibility study, now completed. Phase II entails <br />preparing and submitting the necessary federal, state, and local <br />1 icense and permit appl ications; prepari ng the contracts for power <br />and water sales; and financial planning. Phase III will provide <br />final design, construction, and start-up. <br /> <br />e <br /> <br />The project schedule for the Webster Hill project has the following <br />mil estones: <br /> <br />Phase II <br />Notice to Proceed <br />Begin preparation of FERC License <br />Exhibit E (Environmental Report) <br />Submit FERC License Application <br />Power Sales Agreement <br />Water Sales Agreement <br />FERC License Issued <br />Project Financing Agreement <br /> <br />January 1985 <br /> <br />January 19B5 <br />November 1985 <br />May 1987 <br />March 1987 <br />May 1987 <br />May 1987 <br /> <br />e <br /> <br />Phase II I <br />Notice to Proceed with Final Design <br />Award Major Equipment Contract(s) <br />Begin Construction <br />Finalize Design <br />Begin Testing and Operator Training <br />Complete Dam Construction <br /> <br />July 1987 <br />November 1987 <br />July 1988 <br />December 1988 <br />February 1991 <br />May 1991 <br /> <br />3686-a/3 <br /> <br />S-4 <br />