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was drawn down to a level below the in-active pool level. A more detailed study would be necessary to determine the exact firm yield of a reservoir of this size. Cost Considerations The total field cost, as developed by the Bureau of Reclamation's Denver Office for the 25,240 AF Owens Creek Dam and Reservoir construction project, is $30 million (see Estimate Worksheet Table I). Non-contract costs were estimated by comparing non-contract costs from the Wolford Mountain Project with the Owens Creek. These non-contract costs, which-include planning, engineering, administration, inspection, environmental concerns and permitting, land acquisition and transfer, mitigation, legal support etc. (see Table II)~ could add an additional 42% or $12.6 million to the $30 million field cost, resulting in a total expenditure of $42.6 million. comparison to other proiects It was suggested that the unit costs from the Owens Creek Reservoir Appraisal Level Cost Estimate be compared with the unit costs from a similar type project which is in the process of being bid. Of course, the unit costs do not allow for a direct comparison due to the fact that the site conditions, elevations, availability of materials, and bid items are not identical. However, this comparison does show a trend toward the higher estimated cost of a project associated with a Federal Government contract. Concerns that a full scale Bureau of Reclamation type project would render the project non-cost effective prompted a study of alternative unit costs. These unit costs were developed by comparing and utilizing actual bid prices from recent bids for a similar sized reservoir, Wolford Mountain Reservoir. Applying these unit prices to construction items similar in nature to both the Owens Creek quantities estimate and the Wolford Mountain bid schedule results in a savings of 18 - 20 percent of the Denver Office cost estimate (see Table III). The 18% savings results in a 25,240 ac-ft reservoir costing about $24.5 million and non- contract costs of $10.29 million, total cost $34.79 million. Figure 1 depicts the cost per ac-ft for various financial interest rates ranging from 2% to 10% for two different scenarios. One scenario assumes that the Recovery Implementation Program (RIP) would purchase 3,600 ac-ft annually in perpetuity for a one time capital investment of $2 million. The other scenario assumes that no water would go to the RIP and consequently no capital cost would be contributed by the Program. Costs range from $100/ac-ft at 2% interest and no water for endangered fish to $425/ac-ft at 10% interest with water for endangered fish. 8 ~ ~ , .:11 i~~ F- f~ b