Lincoln Park Crooked Ditch Company, Inc.

Shareholder Frequently Asked Questions

 

 

Questions answered  from January 2017 Annual Meeting:

Loan with Colorado Water Conservation Board original 2009 for $804,685.61 with annual payment of $42,392.22 (2016 interest 22,077.32 and principle $20,314.90) Principle balance end of 2016 was $658,987.11.

Checking Balance end of 2016 was $2,751.03 and Savings Balance was $76,240.41.

Any further questions about finances you may call 431-1355.

 

Below are Q & A's from shareholders that may benefit all shareholders. The information will be updated as questions come in and responses are generated.

If you have a general question that would benefit all shareholders, please send your question to comments@crookedditch.com
Please note: If you have an urgent or a question regarding your specific situation, please write the board of directors or call the the ditch superintendent Les Meek at 429-0091. This web page is not monitored by the board nor the ditch superintendent.

Q:  What is the service charge for late payment of assessments?

A:  The service charge is now $7.00 per month.

 

Q:  What is the cost to restore forfeited ditch shares?

A:  1 to 2 years - $100 per share per year plus administrative costs
      3 to 5 years - $75 per share per year plus administrative costs
      6 to 10 years - $60 per share per year plus administrative costs
    11 to 20 years - $50 per year per share plus administrative costs
 
EXAMPLES:
For 20 years(using example of 7.5 shares)  you would pay:
                  2   years time $100 times 7.5 shares =    $1,500
                  3   years times $75 times 7.5 shares =    $1,688
                  5   years time $60 times 7.5 shares =      $2,250
                10   years times $50 times 7.5 shares =    $3,750
                20   years                       TOTAL = of above $9,188 plus administrative costs
 
For 10 years you would pay:
                  2   years time $100 times X- shares =      $X,XXX
                  3   years times $75 times X- shares =      $X,XXX
                  5   years time $60 times X- shares =        $X,XXX
                10   years                     TOTAL = of above   $X,XXX plus administrative costs
 
For 5 years you would pay:
                  2   years time $100 times X- shares =      $X,XXX
                  3   years times $75 times X- shares =      $X,XXX
                  5  years                       TOTAL = of above  $X,XXX plus administrative costs
 
For 1 – 2 years you would pay:
                1 - 2   years time $100 times X- shares =   $X,XXX
 

Q: Can I make payments on my assessment?
A: Annual assessments are due February 1st. Any unpaid assessments will be charged interest at 1-1/2% per month from January 1 until paid, according to the by-laws of the company. In addition to interest on late payments there is a $7.00 monthly service charge. If any shareholder wishes to make payments on their assessments contact Secretary/Treasurer  at 719-431-1355.

Q: I have not received my bill. Have they gone out yet?
A: The bills went out in early December, so everyone should have received them. If a shareholder has not received their bill they should call Secretary/Treasurer at 719-431-1355. .  If a shareholder moves, it is their responsibility to notify the ditch company of their new address.

Q: Will the water be monitored due an increase in volume which may cause flooding in some areas?
A: Due to recent improvements additional water is available to the Company. The board of directors recommends that all shareholders consider installing sump pumps in basements to prevent flooding. Per Company attorney "the Supreme Court has held that a ditch company is not automatically liable for seepage or overflow from the ditch. It is only liable if it is negligent in construction, operation, or maintenance of the ditch. The courts seem to acknowledge that some seepage is normal, unavoidable, and ordinary care does not require that the ditch company do absolutely everything to avoid the seepage."