C150044 Feasibility Study - Laserfiche WebLink

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. Permitting All easements and rights of way have been arranged for. The Company expects to be exempt from 404 permitting by Statutory exemption, 33 CFR Section 323.4(a)3. This will be confirmed with the Omaha District, Army Corps of Engineers. , Financial Plan The total cost of the project is $450,000. $405,000 or 90% may come from a loan with the Colorado Water Conservation Board, and the remainder from the project sponsor, RRLC. The CWCB Loan Application is found in Appendix D. The RRLC is in strong financial condition, and currently has no long term debt outstanding. A $405,000 CWCB loan at 4.00% interest over a 3D-year repayment period would calculate to an annual payment of $23,421.19. The loan payment of $23,421.19 amounts to an additional assessment of $9.35 per share or approximately $0.21 per acre feet diverted. The RRLC has already made a $10.00 increase to it's assessments in anticipation of a possible CWCB loan. Assessments were raised from $60.00 to $70.00 in January of 2000. This increase will stay in effect throughout the duration of the loan. The increased assessment will bring in the extra revenue needed to cover the CWCB payment. This financial analysis should stay consistent over the period of the CWCB debt retirement. Statements of revenue and expenditures for the RRLC can be found in Appendix E. The RRLC will raise the Company's portion of the project cost, $45,000, from two different Sources. One Source is the additional $10.00 collected on all 2000 assessments. The other source will come from the Riverside Irrigation District (RID). The RID is the majority stockholder in the RRLC and provides additional funds to the RRLC through assessments for inlet and diversion use. This arrangement will generate the needed funds. F"iSubihty Study Ri"..nnd.. R.....rvOl... iSnd ....nd~nyDi".....sionStructur.. February ~OOO 10