Below is the current cost estimate for the Duck River Reservoir Project. This estimate is based on studies completed by the U.S. Army Corp of Engineers, as well as independent engineering firms and updated to November 2009 dollars.
|Property Acquisition||$6.3 million|
|Clearing & Grubbing||$1.3 million|
|Intake & Main||$13.5 million|
|Cultural Resource||$0.4 million|
|Engineering & Design||$7.7 million|
|Construction Management||$3.2 million|
To finance the Duck River Reservoir Project, the Cullman Utility Board will issue bonds up front. Water contracts with all of the regional partners ensure the repayment of these bonds. Once the project is paid off, each independent water system will own a portion of the reservoir, based on their percentage of use (amount of water purchased).
For example, if the project had been completed in 2009, the percentage of ownership of the Duck River Reservoir would have been divided in this way: