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<br /> <br />I <br />I <br />I <br />t <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />- 2 - <br /> <br />This report describes a methodology based on current tech- <br /> <br />niques in use on master planning projects (1, 3, 5, 6, 13, 14 <br /> <br />and 15)* undertaken by the Urban Drainage and Flood Control <br /> <br />District in the Denver metropolitan area, supplemented by out- <br /> <br />side research. It is a summary of the state of the art and is <br /> <br />intended to serve as a starting point for the development of <br /> <br />a more refined and more applicable benefit-cost analysis <br /> <br />methodology. <br /> <br />Benefit-Cost Obiectives <br /> <br />The primary objective of benefit-cost analysis is to <br /> <br />compare the cost of alternative flood control measures with <br /> <br />related benefits to determine which measures maximize the <br /> <br />purpose of the expenditure of public funds. The principal <br /> <br />purpose of urban flood control projects is the avoidance of <br /> <br />flood damages to public and private property. <br /> <br />Benefit-cost analysis, if properly carried out and co- <br /> <br />I <br />I <br />t <br /> <br />gently presented, can be a beneficial tool in public decision- <br /> <br />making. There are a number of aspects which cause the tool <br /> <br />to be important: <br /> <br />I <br />I <br />I <br />I <br /> <br />1. The public works ty~decision is translated into <br />the common denomination of dollars. Not only is <br />the cost of the improvement known, but the benefits <br />from the improvement are assigned dollar values - <br /> <br />*Numbers in parentheses refer to references listed in Appendix 1. <br /> <br />~ <br /> <br />Leonard Rice Consulting Water Engioeers.lnc. <br />