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<br />. <br /> <br />. <br /> <br />. <br /> <br />> . <br /> <br />Recrea t i on <br /> <br />The monetary benefits derived from recreational visitation to the <br />Narro\1s Unit have been reevaluated by the National Park Service and the <br />results summarized in its memorandum (appended) of February 17, 1976. <br />This reevaluation is based on revised land requirements and current <br />recreation-day values of $1.75 per recreation day. This value is within <br />the range of $0.75-$2.25 for general recreation established by the Water <br />Resources Council's "Pri nci pl es and Standards" of September 10, 1973, <br />which is considered to be representative of current values. The previous <br />assumption of delayed construction of a portion of the recreation facilities <br />has now been deleted. All recreation development presently planned will be <br />completed in the initial construction period. The estimated annual visit- <br />ation upon which benefits have been calculated is based on the provision <br />of all of the recommended facilities initially. <br /> <br />Based on these factors, the National Park Service has estimated the <br />annual recreation benefits to be $2,144,000. <br /> <br />Fish and Wildlife <br /> <br />The current fish and wildlife plans for the Narrows Unit have been <br />discussed in detail in a preceeding section of this report. Annual <br />benefits derived from fish and wildlife enhancement were provided in <br />the Fish and Hildlife Service's memorandum (appended) of tlovember 4, <br />1975, and are currently estimated to be $916,000. <br /> <br />~ <br /> <br />Project Costs <br /> <br />As stated previously, the estimated construction cost based on <br />July 1975 prices is $139,025,000 and the annual operation, maintenance, <br />and replacement costs are estimated to be $817,700. Interest during <br />construction for the project is estimated to be $12,206,000 at <br />~ percent interest. The derivation of the interest during construction <br />is presented in table 1. <br /> <br />Benefit-Cost Analysis <br /> <br />An evaluation of total annual be1efits relative to estimated annual <br />equivalent costs results in a benefit-cost ratio ofl.ff101'based on <br />a 100-year period of analysis at 3~-percent interest~--~he benefit-cost <br />analysis is presented in table 2. <br /> <br />19 <br />