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<br />001716 <br /> <br />follows: prolongation of the useful life of the John Martin Reservoir <br /> <br />and other existing reservoirs; reduction of dredging, clc.aning, and <br /> <br />operation and maintenance costs of irrie;&tion and municipal ',Iater <br /> <br />supply syotems; and reduction of flood and drainage damages associated <br /> <br />with channel aggradatione. <br />Recreational benefits evaluated by the National Park Service <br /> <br />amount to annually. The new ~ld enlarged reservoirs <br /> <br />planned for the Initial Development would provide splendid recreational <br />opportuni ties that could be develOp~d into major attractions. <br />Potential damages to fish and wildlife from the Initial Develop- <br />ment outweight the potential benefit~ by annually, <br />according to evaluations prepared by the Pish and Wildlife Service. <br />Every attempt would be made in the actual operation of the project to <br />reduce that damage. <br /> <br />Numerous measurable indirect benefits would accrue to the area as <br /> <br />a resUlt of contract expenditures for the construction of the project. <br /> <br />Mathematical factors have been computed to measure the benefits that <br /> <br />woUld arise from the initial impact of euch expendituree. The result- <br /> <br />ant values were then converted to an annual amortization equivalent <br /> <br />over the useful life of the project. Indirect construction benefits <br />from the Initial Development would amount to $ annually. <br />The economic justification of a potential development is tested <br />by the benefi t-cost ratio ~'hich measures the net benefi ts o,btainable <br /> <br />contrasted with the attend2~t Pederal costs of bringing about these <br /> <br />benefits. To obtain the benefit-cost ratio, the adjusted construc- <br /> <br />tion cost, or the net Federal project investment, must be translated <br /> <br />into an annual eqnivalent sum which, when added to the annual expenses <br /> <br />56 <br />