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<br />and gentlemen, we supmitted a formal report <br />to your Director. <br /> <br />The first item on the report is the progress <br />on the investigation of the Narrows Unit. We <br />are drawing together our economic analyses and <br />hydrology. This work is well along on the unit. I <br />Our feasibility designs and estimates are in <br />good shape and we are anticipating the draft- <br />ing of a report in october. This is a rather <br />tight schedule because it will of necessity <br />incorporate plans of the Fish and Wildlife Ser- <br />vice, the Park Service, corps of Engineers, <br />and the State of Colorado. Many of these in- <br />corporations are involved technically and <br />economically. But we are pushing for this <br />schedule in order that it might be possiple <br />for reauthorization hearings to be held on the <br />unit a year from now. <br /> <br />Along with the investigations of the <br />Narrows Unit we find that there is an interest <br />in a number of pump units and embellishments <br />of the project plan. We are looking into all <br />of these possibilities. They will be reported <br />upon with the basic project. We intend to <br />present these plans as completely as is possi- <br />ble, but there are inherently some aspects <br />of these proposals which cannot be completely <br />investigated until tbe project has been re- <br />authorized and repayment contract details have <br />peen negotiated that will enable us to smooth <br />out all of these various incremental additions <br />to the project. However, we will do our pest <br />to handle these so that all the interests in <br />the Narrows will be able to see how these might <br />fit in with opportunities for use of the reser- <br />voir. <br /> <br />As I am sure most of the Board knows, the <br />man that we had in charge of investigations on <br />the Narrows Unit, Mr. Gus Greer, has been . <br />selected for an important assignment in Brazil. <br />He will direct a reconnaissance investigation <br />of water resource development in that country, <br />and we feel quite honored that Gus was selected <br />for this position. But it leaves us with the <br /> <br />I <br />