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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />BACKGROUND <br /> <br />As provided in the RP A, construction on three of the Project features in Phase I-Ridges <br />Basin Dam and Reservoir, Ridges Basin Inlet Conduit, and Durango Pumping Plant-would <br />be initiated during the seven-year study period to determine endangered fish habitat needs. <br />The initial depletion of 57,100 acre-feet permitted by the first element of the RP A (equivalent <br />to a total water withdrawal of 80,100 acre-feet) is a smaller depletion than the 154,800 acre- <br />feet for full development of the Project (195,400 acre-feet total withdrawal). Future <br />development of the Project will be dependent on the outcome of the biological studies <br />required by the RPA and the results of the Supplemental EIS. <br /> <br />BENEFIT-COST ANALYSIS <br /> <br />Since the original Reclamation Act of 1902, the Secretary of the Interior has been required <br />to determine the economic feasibility of any project recommended to Congress for <br />construction. Through the years, various methods have been developed and used to assist <br />the Secretary in determining economic feasibility. In recent history, the use of a benefit-cost <br />analysis not only served to show the economic feasibility of a project but it also served as <br />a tool used by both the Administration and Congress to rank projects for the allocation of <br />funds. The benefit-cost ratio is an index that is obtained by dividing the estimated value <br />of project benefits by the estimated value of project costs. <br /> <br />The major question that occurs is the determination of the project benefits is what should <br />be included or not included in the benefit analysis. Prior to the Water Resources Planning <br />Act of 1965, each federal water resource agency generally used its own procedures for the <br />evaluation of projects which were proposed for construction. The Water Resources Planning <br />Act directed that principles, standards and procedures be established to ensure consistent <br />planning by all federal agencies in the formulation and evaluation of water and related land <br />resources projects. Since the passage of the Act in 1965, there have been two major sets of <br />documents produced to guide the evaluation of a project. The first was titled "Principles, <br />Standards and Procedures for Planning Water and Related Land Resources." These <br />documents were promulgated by the U.s. Water Resources Council and approved by the <br />President on October 25, 1973. The Principles and Standards served as the vehicle to <br /> <br />2-9 <br />