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<br />. <br /> <br />CHAPTER 1 <br /> <br />~_ .~.c' <br /> <br />OPTIMIZATION <br /> <br />This chapter presents the results of the optimization studies <br /> <br /> <br />which were made to select the potential level of storage for the <br /> <br /> <br />Kelly Road Dam and the potential Upper Lowry Dam. Average annual <br /> <br /> <br />costs and benefits are based on a 100-year period of analysis and <br /> <br /> <br />a discount rate of 7.125 percent per annum. Although no invest- <br /> <br /> <br />ment would be required for lands because the lands are already <br /> <br /> <br />under Federal ownership, there would be a loss in utility of <br /> <br /> <br />these lands. Values of $lO,OOO per acre for the area within the <br /> <br /> <br />lOa-year flood pool and $5,000 per acre for the area above the <br /> <br /> <br />100-year pool up to the flood pool for the probable maximum flood <br /> <br /> <br />were, therefore, included in the economic costs for the lands <br /> <br /> <br />required for Kelly Road Dam and Upper Lowry Dam. The acreages <br /> <br /> <br />required include the lands required for the dams and for the pool <br /> <br /> <br />areas up to the maximum water surface elevation for the probable <br /> <br /> <br />maximum flood. <br /> <br />. <br /> <br />l-l <br />