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Justification to Support Estimate <br /> Copies of pertinent portions of the 1983 study, which served as the basis for the damage <br /> analysis, along with work sheets wherein damages were updated, are included in <br /> Appendix 6. As a check on the accuracy of the damage analysis, a graph is provided of <br /> expected damage plotted against flood frequency for the combined Reaches I though IV <br /> (that is, the area of the Pawnee Creek overflow protected by the proposed improvements). <br /> Also shown on this figure is the total estimated damage which occurred along these <br /> reaches during the 1997 flood event, based upon damage estimates compiled by the <br /> Colorado Water Conservation District, the City of Sterling, and Logan County. <br /> Number of People Protected by Project <br /> It is estimated that the 1997 flood affected 1,400 homes. Approximately 1,600 homes are <br /> in the 100-year floodplain for the Pawnee Creek overflow in the City of Sterling. <br /> Another 60 homes are in the floodplain in unincorporated Logan County. Using an <br /> average of 2.7 people per dwelling, (number provided by City of Sterling)the project will <br /> protect approximately 4,482 people. There are approximately 200 businesses in addition <br /> to the people living in the path of the flood area to be protected. <br /> Value of Property Protected by Project <br /> Estimated value of property protected by the project is shown on the following table. <br /> Assumed valuations were provided by the City of Sterling based upon average assessed <br /> valuation. <br /> Table 7. Property Protected By Project <br /> Land Use Units Protected Average Value/Unit Property Value <br /> Residential 1,660 Homes $ 55,000 $91,300,000 <br /> Commercial 200 Buildings $120,000 $24,000,000 <br /> Farm Land 1,675 Acres $ 2,000 $ 3,350,000 <br /> TOTAL $118.650,000 <br /> XII. BENEFIT/COST ANALYSIS ( <br /> benefit / cost analysis was prepared using FEMA's "Riverine Flood Infrastructure — <br /> Small Project Benefit — Cost Program," Version 1.01, May, 1995. The benefit / cost <br /> analysis for the selected alternative is located in Appendix 6. The benefit / cost ratio 'AL(-1,c <br /> determined for the selected alternative is 1.21. The benefit / cost ratio is based on the <br /> most current information. It is important to note that the previously prepared damage <br /> costs were updated to the current year using a 4% annual increase. It is anticipated that <br /> 40 <br />