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CACHE HIGHLINE WATER ASSOCIATION CANAL PROJECT FINANCIAL SCENARIOS

The scenarios that follow are based upon current cost estimates from NRCS and loan information from UWR. They assume a 49/51 split between the two canal companies because the water rights for each company are almost equal. The scenarios show the anticipated worst and best cost situations for proje

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CACHE HIGHLINE WATER ASSOCIATION CANAL PROJECT FINANCIAL SCENARIOS

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    1. CACHE HIGHLINE WATER ASSOCIATION CANAL PROJECT FINANCIAL SCENARIOS

    2. The scenarios that follow are based upon current cost estimates from NRCS and loan information from UWR. They assume a 49/51 split between the two canal companies because the water rights for each company are almost equal. The scenarios show the anticipated worst and best cost situations for project funding based on preliminary cost estimates.

    3. SCENARIO 1 Project fully funded by canal companies w/o local & Federal assistance. Project Costs: $25,000,000.00 includes design and inspection fees. LHPS (49%) $12,250,000.00/1,997 shares = $6,134.20 per share LN (51%) $12,750,000.00/3,279 shares = $3,888.38 per share

    4. SCENARIO 2 Project fully funded by canal companies and cities w/o Federal assistance. Project Costs: $27,000,000.00 includes design and inspection fees. Cities (39%) $10,530,000.00 Canals (61%) $16,470,000.00 LHPS (30%) $8,070,300.00/1,997 shares = $4,041.21 per share LN (31%) $8,399,700.00/3,279 shares = $2,561.67 per share

    5. SCENARIO 3 Project 75% Federal funding w/25% cash or in-kind match by canal companies and cities. Project Costs: $25,800,000.00 with $3,000,000.00 design and inspection fees paid by NRCS 25% Match $6,450,000.00 Cities (39%) $2,515,500.00 Canals (61%) $3,934,500.00 LHPS (30%) $1,927,905.00/1,997 shares = $965.40 per share LN (31%) $2,006,595.00/3,279 shares = $611.95 per share

    6. SCENARIO 4 Project 75% Federal funding w/25% match covered by backup loan from UWR revolving funds at 2.9% for 25 years. Project Costs: (same as scenario 3) w/15% cash or in-kind match for loan of 25% match. Cities (39%) $2,515,500.00x0.15 = $377,325.00 + $118,004.55 per year Canals (61%)$3,934,500.00x0.15 = $590,175.00 + $184,571.21 per year LHPS (30%) $1,927,905.00x0.15 = $289,185.75/1,997 = $144.81 per share + $90,439.89/1,997 = $45.29/share/year LN (31%) $2,006,595.00x0.15 = $300,989.25/3,279 = $91.79 per share + $94,131.32/3,279 = $28.71/share/year

    7. SCENARIO 5 Project 75% Federal funding w/25% match covered by backup loan from UWR revolving funds at 1% for 30 years. Project Costs: (same as scenario 3) w/15% cash or in-kind match for loan of 25% match. Cities (39%) $2,515,500.00x0.15 = $377,325.00 + $82,022.95 per year Canals (61%) $3,934,500.00x0.15 = $590,175.00 + $128,303.25 per year LHPS (30%) $1,927,905.00x0.15 = $289,185.75/1,997 = $144.81 per share + $62,868.59/1,997 = $31.48/share/year LN (31%) $2,006,595.00x0.15 = $300,989.25/3,279 = $91.71 per share + $65,434.66/3,279 = $19.96/share/year

    8. SUMMARY If the project comes in at estimates or below with Federal funding providing 75 % and UWR providing a 2.9% backup loan, the costs to LHPS share holders would be $144.81/share paid by the end of construction with $45.29/share/year for 25 years (total of $1,277.06/share in 25 years). The costs to LN shareholders would be $91.79/share paid by the end of construction with $28.71/share/year for 25 years (total of $809.54/share in 25 years).

    9. How to reduce costs? Contact Senator Bob Bennett at 202-224-5444 or http://bennett.senate.gov/public/index.cfm?p=EMail and thank him for hissupport this project and keep us in mind for future funding of Phase 2.

    10. Disclaimer The preceding scenarios are subject to change based upon changes in Federal funding, in-kind work done with the project, changes in loan amounts and time of repayment, and changes in actual construction costs. They are estimates only. No contracts will be signed without shareholder approval.

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