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<br />City of Ft. Collins and Larimer County - Dry Creek Flood Control Project <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />The proposed Dry Creek Flood Control project is a multi-objective project to lessen the frequency <br />and severity of flooding, decrease predicted flood damages, promote economic development, <br />create public open space and parks for recreation, and enhance and restore natural areas. The <br />project consists of the construction of a grass-lined earthen diversion channel from a point near <br />the intersection of Dry Creek and Willow Lane directly south to the Cache La Poudre River. The <br />project includes a neighborhood park along an oxbow of the Cache La Poudre River which has <br />been identified as a significant natural resource area. <br /> <br />The existing lOO-year flood damages and losses are estimated at $8,712,000. The project will <br />provide protection to approximately 828 residential and commercial structures in the l00-year <br />floodplain. The estimated cost of the diversion channel is $2.5 million. The benefit-cost ratio for <br />the proposed project is 3.5. <br /> <br />The City of Fort Collins Stormwater Utility, a city-owned enterprise, collects stormwater fees <br />through a monthly charge added to the utility bills for each property. The revenues from the Dry <br />Creek basin amount to approximately $44,000 annually. Estimated revenue from new <br />development fees is $11,815. The City currently has a $351,000 positive fund balance in the Dry <br />Creek basin for flood and stormwater improvements. <br />