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<br />PAONIA PROJECT, COLORADO
<br />
<br />21
<br />
<br />Flood-control benefit
<br />In years of heavy run-off the flood flows of the North Fork of the
<br />Gunnison River cause damage in the North Fork Valley. This dam-
<br />age is largely the result of bank cutting and eroding away of valuable
<br />farm land and the washing out of roads, railroads, bridges, and irriga-
<br />tion works. The high flows result from the rapid melting of accumu-
<br />lated snow on the watershed and usually occur between May 1 and
<br />June 15.
<br />Studies of flood flows and damages show that an. average yearly
<br />saving in flood damage of $1,240 will be accomplished by the operation
<br />of the Spring Creek Reservoir to obtain the maximum reduction in
<br />peak flows. The present value of such savings over 50 years at 3
<br />percent interest is $32,000.
<br />
<br />Summary oj annual national benefit8 and c08t8
<br />The increase in annual gross crop value is taken as a measure of the
<br />direct national economic benefit from irrigation as a result of project
<br />development. Annual costs include a full allowance for operation,
<br />maintenance, and repairs of the new works and amortization of the
<br />total construction cost over 50 years with 3 percent interest. The
<br />annual direct national benefits and costs are summarized as follows:
<br />Annual direct benefits:
<br />Irrigation: 1
<br />Fire Mountain lands, 8,642 acres at $12.77 per acre________
<br />Leroux (keek lands, 6,114 acres at $11.36 per acre__________
<br />
<br />Total_______________________________________________
<br />Flood control: Spring Creek Reservoir _ __ _ __ __ _ _ _ __ __ _ _ _ _ _ __ __
<br />Total measurable benefits from the projecL_________________
<br />
<br />$110, 360
<br />69,460
<br />179, 820
<br />1,240
<br />
<br />181,060
<br />
<br />Annual costs: 2
<br />Operation, maintenance, and repairs to project__ __ __ _ _ _ _ _ _ _ _ _ _ _
<br />Amortization of project cost over 50 years with 3 percent interesL
<br />
<br />Total annual cost of complete project_________~____________
<br />Ratio of annual benefits to annual costs, 2.6 to 1.
<br />1 Based on average prewar priees.
<br />~ Based on January 1940 prICes.
<br />
<br />8,000
<br />60,280
<br />68,280
<br />
<br />Public benefit8
<br />Project farmers, local communities and counties, and the State, and
<br />the Nation will all benefit through development of the project. The
<br />increase in feed and forage production will assist in the proper utiliza-
<br />tion of surrounding range lands and the stabilization of the livestock
<br />industry in the region. Orchards, largely dependent on late-season
<br />water will be supplied adequately with water, thus assuring the matu-
<br />rity of crops and increased production. Greater agricultural income
<br />within the region will increase its ability to purchase consumer goods
<br />and industrial products produced throughout the Nation. The in-
<br />crease in annual gross crop values alone will amount to approximately
<br />$180,000 at ~verage prewar prices, or $7,240,000 over a 40Cyear period.
<br />This is more than four and one-half times the estimated cost of the
<br />project at 1940 prices. The reserve storage capacity that will be
<br />provided in the Spring Creek Reservoir will assure storage water for
<br />future development and ~rowth of North Fork River Valley. -
<br />Increased farm productIOn will increase the tax valuation of project
<br />land, resulting in additional tax receipts for the support of schools,
<br />
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