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<br />
<br />99mp;letepro~~.ct~~li,,~~a~!j~t. t,~!>?i;9.!1d8,fqpr9~eq~:t:lood. ~h~.s is due to
<br />. theuncontrolled'~ea1ielo)'l tImdam"wh:>:ch woUld produce, mJ.llor .t.l.ooc'\s
<br />dUl'ing"very i,oiteriirs.etofms'. 'Unde'l:- eonditibn~ modified by the proposed
<br />plan of improvement, the aver~ge annual damages based on floods of record
<br />would amount to ~p340, and those that would result from an OCCUl'rence of
<br />the standard pro,i~e~, fl,oodamcunt, tq ~21.0, or a total of ~155o. 'rhe an-
<br />nual benefits accrp;i.ng, to ihepr'ojeqtcl.ue to the prevention 01' flood
<br />damages are the difference between the average annual damages under ex-
<br />is-t.i11g, dOJlq.i tionsof,.$lj, 090 ,and the average q.~u%.damagesunder .con-
<br />d:tti6hsfuodified b'<;the propose.d pl~, ofl;i550, or 07,546. .. ... .,
<br />
<br />.. .,4-02. Allqwahce'for'futut'e development. '" i-'relimiriaiy figures'
<br />releaii'edbY tlie'13ill:eau:::'df. the Census reveal tlw:t;,thepopulation of, ,
<br />Trip,idad decrea,sed from 13,223 to 1~,206 during the period .1940 to 1950,
<br />and",.~hat the nUmber of dv,,,lling unit,s increased only slightly from 3,644
<br />to 3,655 during the same peJ;'iod. This eoupled with the fact that praeti-
<br />ca~ly no vacant land exists in: the flood plain indieates that deyelopment
<br />wit!).in the flood plain will. remain r:ather static d\lI'ing the pr.oject life,
<br />therefore no increase in benefits is mad.e as an allowanee for future
<br />dEl\TEllopment.' '<'
<br />
<br />"4-03. Enhaneement of. land values. ~ The value of land within .the
<br />flood plain or-Pinon Cmlon,Lrroyo h~s depreeiated beeause ,0f recent
<br />major floods. . The floodp;lain containing ,aboat 40 acres which., on the
<br />basis. of five city lots per aore, aJ1\ounts.t.o 200 lots. It;is an'tici-
<br />pated. that the protection that' will be afforded by the projeet will re~
<br />sult in an increase in land values of at least ~i200per lot, or~?40,Ooo,
<br />which at ~ peree~.L.JiIJ!9..:!.l}..~~.; to \~22...!::.!Y.l]1<!1~. The pr.ojeet J.S accora-
<br />ingl~credited with an annual benefi~ of this amount arising from the
<br />enhancement of land values.
<br />
<br />.
<br />
<br />4-04. Total benefits. - The to~al annual benefits that"will aecrue
<br />to the project 14PO!' its c9mp,letion amount ~o ~i;9,940, of:w.hi2hj,7,52t2. are
<br />~~.j;l,1~~Y.~.iM.!l..21;.!19.~(L<1fu'1l~,gf),~"L.,,:m~Ljg~~Q,9''''~~~M.f;.~,l):l.,1J:1.2",S'Jlb.iil!l,~::.
<br />'::::~~~.LJ.lj,nll..Y~..ll,~~. . ,
<br />
<br />V - ECONOMIC JUSTIFICiSION
<br />
<br />5-01. Annual charges. _ The project annual charges, based .on a
<br />Federal investment of ~iI50,OCO alllorti:::ed for 50 years at 3 percent
<br />interest, and a non-Fec'\eral investment of ~?,32,500 amortized for 50 years
<br />at,311 percentinterest plusmaintenahee of (i500; woUld amount to $7,72':;'
<br />These. annual charges are summarized in table.'. 4..,
<br />
<br />,:,,""",'
<br />
<br />-6-
<br />
<br />Appendix III
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