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;;. "" 95. The acquisition of borrow material for the levee from the area Qesigoated for the fishing lake would result in some additional costs because of overhaul and excavation from the wet. Local interests have agreed to assume these costs, currently estimated at $33,000. 96. The total annual charges for the Las Animas Local Protection Project are estimated at $59,000, as given in table 7. The Federal annual charges would be $48,770 and the non-Federal, $10,230. The annua I charges I nc I ude interest and amort i zat i on of the Federa I and non-Federal investment at an interest rate of 3 percent over a 100- year per lod . 97. Monetary bene.f its wou I d accrue to the Las An i mas Loca I Pro- tection Project by the prevention of flood damages within the 6,880- acre area which would be protected from flooding. Intangible benefits which cannot be measured in monetary terms also would be attributable to the project. Secondary benefits would accrue but they have not been included in the monetary benefits described herein. 98. The annual benefit creditable by the prevention of flood damage I s the difference between the average annua I damages with and without the project in place, assuming the authorized Pueblo Dam in operation. The average annual damages without the project in opera- tion amount to $82,300, including an allowance of $25,800 or 45.64 percent for future development. The average annual damages with the project In operation under the existing state of development are $8,100. By adding an allowance for future development (45.64 percent), the total average annual damages with the project in operation amount to $11,800. The benefits attributable to the project for the pre- vention of flood damages are therefore $70,500. 99. Major flooding has been infrequent in the Las Animas urban area; nevertheless, the fear of floodi~g under present conditions has an adverse .influence on land values. This is particularly true of the medium- and low-cost residential areas in the lower part of the city where the flood hazard is greater. It is estimated that removal of the flood treat would increase land values 10 percent in the low-cost residential area and 5 percent in the medium-cost' residential area. In addition, 20 acres of land in the business district would increase in value about 2 percent. The remainder of the business property and the high-value residential property are subject to less frequent flooding; therefore, removal of the flood hazard would have only a negl igible effect on the land values in these areas. The total in- crease in land values attributable to the project is estimated at $63,800, which would be real ized by numerous landowners. This amount reduced to an annual return at an interest rate of 6 percent is $3,900. 100. The intangible benefits of flood control improvement at Las Animas include prevention of loss of human I ife, reduction of health hazards, and enhancement of pubi ic security. Flood control would 34 R 1/28/64