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<br /> <br />- - --- ----.- <br /> <br />Annual direct benefits: <br />Irrigation benefits (increase in gross crop returns)_______________ <br />Flood contrQI______________________________________________ <br /> <br />Total direct benefits_ _ h _ ___ ___ _ _ __ _______ ___ ___ _____ __ ___ <br /> <br />$179,820 <br />1,240 <br />181,060 <br /> <br /> <br />6 <br /> <br />PAONIA PRpJECT,, COLORADO <br /> <br />--- <br />-- <br /> <br />Annual costs: <br />Operation and maintenance and repairs of project works_________ 8,000 <br />Amortization of project cost over 50 years with 3 percent interest- _ 60, 280 <br /> <br />Total annual costs_______:______n_____________________.___ 68,280 <br />Ratio of annual benefits to annual costs_________________"_________ 2.6 to'l <br /> <br />. 19. There are numerous less tangible, but nevertheless very real <br />benefits for whioh monetary values have,not been oomputed. While <br />the value of a more stable and expanded agriculture is not readily <br />susceptible of dollar evaluation, its effects upon the community and <br />the region will be important.' The increase in gr6ss crop income in <br />the project area will amount to approximately $180,000 annually. <br />Converted to livestock products, the increased feed and forage crops <br />would have greater value and further increase the agricultural income <br />of the area. . The increase in agricultural income will oontribute <br />permanently to the volume of business transacted, including employ- <br />ment, wholesale and retail trade, and transportation, in the immediate <br />and surrounding area as well as in distant regions.' Expenditures for <br />. constructing the project will provide immediate stimulation of business <br />. activity and employment for returning war veterans and displaced <br />war workers. . <br />20. ,Added feed and forage production will assist in proper utiliza- <br />tion of the range lands surrounding the project area and aid in stabiliz- <br />ing the region'slivestock industry, especially during periods of drought. <br />The increase in agricultural income will relieve the population pres- <br />sure in the area by maintaining a larger farm population with means <br />for a higher living standard. Assurance of a dependable irrigation <br />water supply, and the higher crop yields with fewer partial and total <br />crop failures, will contribute materially to improving the morale of <br />the local farmers. Reserve storage capacity in the. Spring Creek <br />Reservoir will provide for future growth in the North Fork River <br />Valley. Large population centers will benefit from marketing of <br />added agricultural products. As a result of the. increase in purchasing <br />power created by project development, industrial centers will sell more <br />farm machinery, automobiles, other transportation equipment, food- . <br />processing m!l-terials and equipment, and consumer goods. The <br />increased production on project lands will add to their taxable values. <br />Increased earnings will reflect favorably in incQme tax receipts. With <br />better economic conditions prevailing in and surrounding the project <br />area any future need for relief . expenditures in the region will be <br />lessened.. . <br />.21. Development of the project will assist materially in stabilizing <br />the lo~al agricultural income and will create national wealth, thus <br />making a permanent contribution to the general economic welfare, <br />and prosperity of the region, State, and Nation. . <br /> <br /> <br />REIMBURSEMENTS <br /> <br />22. The total estimated cost of the project outlined in this report <br />is $1,551,000 based on January 1940 prices, The estimated revenues <br />collectible from irrigators in the project area amount to approximately <br />