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- - - . - - - - - - Chatfield Reservoir Chapter 4 - Economics This chapter presents the costs associated with redevelopment of facilities affected by an increased water level. It includes a summary table showing overall costs, More detailed set of tables that itemize costs on an area by area basis are presented in the Appendix, In addition to development costs, it is likely that there would be some disruption to park visitation during the period when new recreation facilities are being constructed and a corresponding diminishment of revenue derived from park visitation, Based on implementation of the recreation mitigation plan and reservoir operations similar to those described in Chapter 2, it is believed that there would be no long term, overall diminishment in the quality of the recreational experience at Chatfield Reservoir, Therefore, no long-term revenue loss is expected to result from an increase in the normal high water level to an elevation of 5444, Other Costs Chatfield Reservoir generates a substantial amount of revenue to Colorado State Parks, its concessioners, and to the surrounding area, Some of this information is summarized in Table 4,1. In 2003, revenue from fees alone was nearly $1.5 million, It is estimated that an additional $9.5 million was spent within the park on purchases, equipment rental, marina fees, and other items. Obviously, closure ofthe park or other interruptions to visitation during the construction of facilities included within the recreation mitigation plan would have a significant economic impact. The magnitude of this impact will depend on construction timing, how it is phased, and other considerations that can't be defined with precision at this point in time, This underscores the need for development of an agreement between State Parks and reallocation project participants that accounts for potential revenue losses once a construction program has been defined, Some important considerations are noted below: The most economical construction program is one that provides for a continuous construction period rather than a phased program that extends construction over an extended period of time, An extended period would increase the costs estimated for completion of the recreation mitigation plan, Again, the ability to implement a continuous program will depend on the timing of funding availability and other factors that can't be predicted at this time, A continuous construction program could reasonably complete the required work in 12-18 months, Some work could be completed on a year round basis without disrupting recreational uses, while other construction should take place during the winter months or other periods when park visitation is low, For example, construction of new facilities at the North Boat Ramps and Marina areas will require closing these facilities during the construction period, For this reason, work on these facilities should be scheduled during the winter months, Conversely, some replacement facility sites, such as the swim beach, are located at a distance from the existing facilities, For this reason, the existing area could remain in use while the new area is being constructed, New segments of the park roadway network, including the bridge crossing of Deer Creek and the South Platte River, could also be constructed without disrupting use of existing park roads, For the reasons stated above, it will be necessary to estimate revenue loss at the time an actual construction program has been defined and to base payments for this loss on any actual revenue losses that are experienced rather than a potentially optimistic assumption on the level of disruption that will occur to park visitation. - . - - - - - - - - - e Recreation Mitigation Study Chatfield State Park Economic Impacts RECEIPTS TOTAL PARK COLLECTED EXPENDITURES INCOME GEN, IN THE PARK NUMBER EXPENDITURES PER VEHICLE ERATED PER FROM PARK NUMBER OF OF VEHI, PER VEHICLE WlTHIN 50 MILE YEAR FROM YEAR FEES VlSITORS CLES INSIDE PARK RADIUS OF PARK ALL SOURCES 1984 457,489 1985 499,942 1986 538,596 1987 672,957 1988 675,124 1989 701,552 1990 533,303 1991 754,780 1992 714,120 1993 725,143 1994 781,747 1995 677,261 1996 850,032 1997 937,113 1998 1,037,278 1,329,689 511,419 58,054,849 519,485,063 528,577,190 1999 1,022,284 1,096,203 421,616 56,640,452 516,063,569 523,726,305 2000 1,180,506 1,187,947 456,903 57,196,222 517,408,004 S25,784,732 2001 1,237,922 1,373,600 528,308 58,320,851 520,128,534 S29,687,307 2002 1,333,170 1,448,895 557,267 58,776,955 521,231,872 531,341,997 2003 1,464,447 1,566,580 602,531 59,489,863 522,956,431 533,910,741 Table 4,1 - Source: Colorado Sate Parks Cost Assumption The Recreation Mitigation Cost estimate is an opinion of probable costs for the construction and design of the plan elements and areas as shown on the Concept Plans dated February 2, 2004, The following is a detailed description of the cost estimate and the assumptions utilized in during cost estimation: I, The estimate is a Class C estimate due to the conceptual level of planning and design that is in support of this estimate, At the preliminary stages of planning and design it is very difficult to determine the complete scope of the project in detail, programming of the project is an approximation and is based on project meetings, existing site inventory and conditions, discussions and the designers and cost estimators professional experience, The cost estimate should be used for budgeting purposes only, 2, The conceptual plans and the cost estimate depict in-kind replacement of facilities, 3, The cost estimate is organized into the major site areas as shown on the concept plans, The individual items outlined in the cost estimate are not all shown on the concept plans, they are typical elements found in this type of project, as well as existing site elements inventoried at each site area, EDAW February 2004 Page 28