Is it possible that additional funds may be required from the non-Indian participants above the amount in their respective repayment contracts ?
Additional funds may be required from the non-Indian participants above the amounts currently in the two existing repayment contracts. Amounts currently in the repayment contracts are based on the May 2001 interim cost allocation (Total project cost of $337 million). The May 2001 interim cost allocation established each entity’s share (percentage) of project joint costs. Existing contracts allow for additional repayment, subject to: • A final cost allocation following completion of the construction • Additional repayment is only warranted for reasonable and unforeseen costs as determined in consultation with the repayment entities (P.L. 106-554) • The Secretary may forgive the obligation of the non-Indian sponsors relative to the $163 million increase in estimated total project costs that occurred in 2003 (See Question #25). Reclamation is currently working with the non-Indian sponsors on implementing Section 207 language into future interim cost allocation procedures for the Project.
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