BOARD00935

• Board Meeting Date: 9/5/1968
• Description: Agenda or Table of Contents, Minutes, Memos
• Board Meetings - Doc Type: Meeting

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complete in itself and comes within the
purview of the above law, the Chief of
Engineers has authorized preparation of
a detailed planning report as the basis
for further development of the project and
allotment of construction funds. For this
reason, the proposed Cotopaxi local protec-
tion project was eliminated from the proposed
plan.

I

With the exception of the proposed Rocky
Ford local protection project, local inter-
ests have expressed concurrence in the
selected plan of improvement and have indi-
cated their willingness to cooperate in the
construction, operation, and maintenance of
the individual projects comprising the plan.
The city of Rocky Ford does not desire to
sponsor the Rocky Ford local protection proj-
ect which was, therefore, also eliminated
from the proposed plan.

The total first cost of the plan of
improvement, omitting the proposed local
protection projects at Cotopaxi and Rocky
Ford is estimated at $66,770,000, of which
$48,541,000 would be federal and $18,229,000
nonfederal. Annual operation and maintenance
cost is estimated at about $432,700, of which
$429,700 is nonfederal. The federal and non-
federal annual charges amount to $1,714,980
and $1,070,720, respectively, a total of
$2,785,700. The average annual benefits are
estimated at $4,680,750. A comparison of
the annual benefits with the annual charges,
which are based on an economic life of 100
years and 3-1/4 percent interest rate, yields
a benefit-cost ratio of 1.7. Also, each
project comprising the plan of improvement
is individually justified.

II

As a result of consultations with the
Colorado Department of Game, Fish and Parks,
and with the Bureau of Sport Fisheries and
Wildlife, the Albuquerque District has