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<br />were assigned based on the level of protection provided by the flood <br /> <br /> <br />control project. Benefits are the differences or improvements in the <br /> <br /> <br />area that would result from the project. <br /> <br />BENEFIT-COST CALCULATIONS <br /> <br />The Federal objective of water resources project planning is to <br /> <br /> <br />contribute to National Economic Development (NED). Contributions to <br /> <br /> <br />the NED objective are computed in terms of increases in the net value <br /> <br /> <br />of goods and services expressed in monetary units. Thus, the ratio of <br /> <br /> <br />average annual benefits to average annual costs for a specific project <br /> <br /> <br />is a measure of the economic feasibility, Proj ects with a benefit- <br />" <br /> <br />cost ratio greater than 1.0 represents a favor,llble return on the <br /> <br /> <br />investment, while projects with a benefit-cost ratio less than 1.0 <br /> <br /> <br />indicate an unfavorable return. <br /> <br />MITIGATION ALTERNATIVES <br /> <br />.' <br /> <br />. . <br />- . . <br /> <br />Be'cause the scope of this study did not"~' permit development of <br /> <br /> <br />detailed hydrology for Elm Creek, this study does not focus on <br /> <br /> <br />frequency related evencs. Instead, the June 1990 flood was considered <br /> <br />the "design flood." <br /> <br />- <br /> <br />~ <br /> <br />15 <br />