PROJC01613 - Laserfiche WebLink

Home Browse Search

. . In 1974 the company decided to construct a new dam with an active capacity of 7,000 acre-feet located about 1/4 mile downstream of the old dam. In 1976 the company applied to the CWCB for assistance, and a feasibility report was prepared by McDermith and Schuster. At that time, the total cost of the project was estimated at $2,632,000. ,'..,... ,...." By 1981 the cost of the project had increased to $6.761 million due to inflation. The company decided instead to rehabilitate the old dam with hopes of eventually restoring its original capacity. The project was financed in part through an $850,000 loan from the Construction Fund and a $2,883,000 loan from the U.S. Bureau of Reclamation through its Small Projects Loan Program. Construction took longer than expected but was completed in November 1988. k; a condition for permission to rehabilitate the dam, the Forest'Service issued a new special use permit and easement which contained a clause requiring a by-pass flow down Cow Creek. This requirement called for a flow of 2.0cfs or the natural inflow, whichever is less during all months of the year except for September when the flow amount is established at 1.0 cfs or the natura1 inflow, whichever is less. The measurement point is the USGS gaging station located about 4 miles downstream of the dam. The Overland Ditch and Reservoir Company currently has two loans with the CWCB as shown below: Loan Contract Current Annual Due Number Date Principal Terms Balance Payment Date #C153307 7/01183 850,000 2% - 40 years 761,241 31,076 December #C153527 9/16188 541,947 5% - 30 years 486,465 35,255 June Totals $1,391,947 $1,247,706 $ 66,331 , The $850,000 loan was for construction and the other CWCB loan was to finance a reduced price repurchase agreement for the remaining balance owed on the Small Projects Loan from the USBR. A deferment of the first payment from July 1, 1986 to December I, 1988 was made at the request of the company due to the extended completion date. Otherwise, there have been no problems with the six repayments made to date on each these loans. The CWCB loan contract only requires the company "to adjust its operating costs and service charges from time to tiine to provide for adequate operation and maintenance, emergency repair services, obsolescence reserves, debt service, and debt reserves." Discussion The 2.0 cfs by-pass flow amounts to approximately 1,400 acre-feet per year, or 23% of the reservoir's current capacity of 6,203 acre~feet However, in order to achieve 2.0 cfs at the prescribed point located 4 miles downstream of the dam, it may be necessary to release up to 4.0