BOARD02386

• Board Meeting Date: 3/8/1972
• Description: Agenda or Table of Contents, Minutes, Memos
• Board Meetings - Doc Type: Meeting

site between highway 36 and interstate 70. On
the basis of those three sites, we scheduled a
public meeting in December of 1969 and presented
the plans.

At this public meeting there was support I
voiced for a dam in the Agate area on East
Bijou Creek. We took another look at the Agate
"te ~d detemUned that with the Agate site ·
in place we could make some reductions in the
costs for the East Bijou Creek site and that as
a system we could recommend this.

The report on Bijou Creek was submitted
to our higher authorities in October of 1970
and this was at 4 7/8 percent interest rate.
The division engineer found some changes that
he desired and returned the report to the
district in June of 1971. In July of 1971, the
interest rate went to 5 3/8 percent. All through
this period the construction costs have been
rising at the phenomenal rates of approximately
10 percent a year.

Between June of 1971 and the present time,
we also looked at two other sites in the Bijou
Creek basin. They are the site "B's" shown on
the map, or West Bijou Creek and Middle Bijou
Creek.

On page 26 of this information packet,
table 9, we have listed the benefits and costs
of the seven sites we investigated in detail
under 3 1/4 percent which was originally the
interest rate which we used for this project.
The current 5 3/8 percent and the 7 percent
which is projected to go into effect later
this month, this shows the effect of the in-..
creasing interest rate on these projects.
Incidentally, the benefit-cost ratios on this
table are based upon an individual analysis
of each dam, not a system analysis. In other
words, this is an evaluation of the dam by
itself.

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