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. ' 1998, the Colorado Water Conservation Board provided the required assurances to act as the . non-federal sponsor for the study on behalf of Colorado flood and water resource interests. The study is presently estimated to cost approximately two million dollars. FEASIBILITY STUDY - PROJECT STUDY PLAN The District Engineer has recommended that a feasibility study be conducted for a Chatfield Storage Space Reallocation Project. The purpose of the feasibility study is to investigate the potential for reallocation of storage from flood control to multi-purpose use, to formulate plans of improvement, and to obtain approval of higher Corps authority. The study objectives are: Federal study objectives are required to ensure consistency across the Nation. The primary Federal objectives for this study are: . Identify solutions that are economically feasible, safe, and reliable; . Provide environmental protection solutions where practical and warranted; . Maximize, to the extent possible, the net contributions to the nation's economic development; . Substantially reduce the risk of personal injury or loss oflife; . Minimize the future flood damage potential in the study area; . Minimize the impacts to the natural environment of the area and mitigate any adverse impacts; . Preserve the natural resources of the area, including cultural, social, and environmental resources; . Restore water resources to mitigate problems; . The Colorado Water Conservation Board and the Chatfield Study Group developed objectives to ensure that the storage reallocation studies met the primary water supply goals of the group. These objectives are more specific than the Federal study objectives and are outlined below: . Summarize "design hydrographic events" based upon available information, including snowmelt and rainstorms, and their relation to spillway design; . Evaluate additional conservation or water supply storage opportunities, benefits, and cost during flood and non-flood seasons; . Evaluate existing and alternative "rule curves" and release operations during flood conditions; . Evaluate the effect of reservoir operation alternatives upon water rights administration; . Identify potential flood risks and damages; . Identify potential recreation effects (including potential benefits and adverse impacts); . Identify environmental effects (including potential benefits and adverse impacts); . Develop preliminary estimates of the potential costs, or range of costs, of reallocating storage for water supply purposes; . Identify additional information requirements and potential costs to implement a feasibility- level reallocation study, if warranted; and . Evaluate present weather forecasting capabilities in relation to the reallocation alternatives. .