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<br />Imp1ementation Schedu1e <br /> <br />The following schedule is proposed for implementation of the <br />project: <br /> <br />Task <br />~Complete Final Design <br />2. Start Construction <br />3. Complete Construction <br />4. Project is Operational <br /> <br />Date <br />OS/25/03 <br />06/02/03 <br />06/27/03 <br />06/28/03 <br /> <br />Socia1, Economic, and Physica1 ~pacts <br /> <br />The project will have no significant social impacts. <br /> <br />Although shareholders in the SDC will be impacted with increased <br />assessments for construction and loan repayment, the project will <br />have a long term positive economic impact by assuring annual well <br />diversions of approximately 3,500 acre-feet of water for <br />irrigation and as indicated on page 4 under alternative 1, the <br />reverse of this situation is not acceptable to the Company. <br /> <br />The project will have minimal phys,ical impacts once construction <br />is complete. The new ponds will cover ground currently used for <br />growing irrigated alfalfa. The ponds will hold water for a <br />limited time and be dry most of the year. Recharge ponds are <br />becoming a very common site in the lower end of the South Platte <br />River. <br /> <br />Permitting <br /> <br />All easements and rights of way are being arranged for. <br /> <br />The Company expects to be exempt from 404 permitting. This will <br />be confirmed with the Denver District, Army Corps of Engineers. <br /> <br />Feasibility Study <br />Springdale Ditch Company <br />Augmentation Project <br />,May 2003 <br /> <br />7 <br />