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<br />/ <br /> <br />. <br /> <br />additional detention storage and drainage improvements in the <br /> <br /> <br />basin upstream from Lowry Air Force Base, which would be <br /> <br /> <br />implemented by local interests, and an additional dam on Lowry <br /> <br /> <br />Air Force Base and modifications to Kelly Road Dam, which would <br /> <br /> <br />be constructed by the Corps of Engineers. In the area downstream <br /> <br /> <br />from Kelly Road Dam, the plan includes channel improvements, <br /> <br /> <br />drainage improvements, flood plain regulations, and an emergency <br /> <br /> <br />warning system and evacuation plan which would be implemented by <br /> <br /> <br />local interests. The estimated total first cost of the selected <br /> <br /> <br />plan is $21,794,000 and the estimated average annual cost is <br /> <br /> <br />$1,610,000. The average annual benefits are estimated to be <br /> <br /> <br />$2,643,000. The selected plan is economically justified, with a <br /> <br /> <br />benefit-cost ratio of 1.6. Adverse social, economic, and <br /> <br /> <br />environmental effects would not be significant. <br /> <br />Under existing legislation concerning cost-sharing, <br /> <br /> <br />non-Federal first costs would be $10,514,000 and the estimated <br /> <br /> <br />non-Federal annual costs for operation, maintenance, and replace- <br /> <br /> <br />ment is $22,000. The Federal first costs would be $11,280,000 <br /> <br /> <br />and the estimated annual Federal costs for operation, main- <br /> <br /> <br />tenance, and replacement is $34,000. The Federal first costs <br /> <br /> <br />include $1,060,000 for the emergency work on Kelly Road Dam which <br /> <br /> <br />is already completed and $3,485,000 for the value of Air Force <br /> <br /> <br />lands which are already federally owned. The net additional <br /> <br /> <br />Federal first costs would therefore be $6,735,000. <br /> <br />Under the President's proposed new cost-sharing policy, the <br /> <br /> <br />estimated first cost to the United States would be reduced to <br /> <br /> <br />$5,051,000. The State of Colorado would be required to provide a <br /> <br /> <br />cash contribution presently estimated at $337,000, which is <br /> <br /> <br />5 percent of the costs of construction of the potential addi- <br /> <br /> <br />ional dam on Lowry Air Force Base and the potential modifications <br /> <br />. <br /> <br />2 <br />