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<br />~ <br /> <br />OG22~8 <br /> <br />can successfully execute a "carrying" agreement with the Denver <br />Water Department for any surplus capacity in Denver's South <br />Boulder Diversion Canal. <br />As can be seen from the foregoing estimate, there are uncertain- <br />ties attached to the first three cost items. These uncertainties must <br />be resolved before any final plan can be approved and financed. The <br />first uncertainty relates to a deduction of $2,654,000 for flood <br />control 'and recreation benefits. It is most unlikely that the value of <br />these benefits can be recovered from some outside agency. Until a <br />firm commitment is made that these benefits can be recovered, they <br />should be included as a project cost and added to the cost of the dam <br />construction. <br />The second unstated cost relates to the acquisition of additional <br />water rights, The explanatory note indicates that these rights would <br />be acquired through the annexation policy of the Coal Greek entities. <br />However, in other portions of the report the water supply which would <br />be acquired through this annexation policy is already fully taken into <br />account. There still remains a shortage of 3,000 acre-feet of water <br />annually and this should be shown as a project cost. The report <br />estimates this cost at $1,800,000. <br />The third unstated cost relates to the conveyance of raw water <br />from South Boulder Creek to the Coal Creek Reservoir. Whether or not <br />any arrangement can be agreed upon with the Denver Board of Water <br />Commissioners is purely conjectural at this time and is a vital element <br />in determining project feasibility. The project report does contain <br />an estimate of from two and one-half to three million dollars for the <br />construction of this raw water conveyance. Using the lowest figure, <br /> <br />-5- <br />