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o on 98 0 . Report of the Regional Director Annual benefits Irriga tion , . . . . . . . . . . $9,052 Recreation. . . . . . . . . . . 1,287 Fish and wildlife . . . . . . . . 5,810 Total annual benefits ~~16,lu9 Annual costs Equivalent project costs. . Operatiop, maintenance and replacement . . . . . Total annual costs. , . . . 8.38,207 260 . ,~,;.35 ,1.90 . . Ratio of benefits to costs. . . . . 0.42 to 1.00 REPAYMENT . 42. Capaci ty to store about 8,650 acre-feet of water annually in the Braziel Reservoir would enable the retention of up to that amount in the Guernsey or in the Pathfinder Reservoirs for use else- where on the North Platte froject. A similar situation was created when the regulatory Lakes Alice and l;inatare were constructed for the Interstate Division on the north side of the river. A precedent was thereby established when the cost of these two reservoirs was charged to the ?athfinder Irrigation District alone rather than allocated proportionately among those benefited directly or indirectly. If such a preceder.t were to be followed in the case of Braziel Reservoir, the entire cost of the proposed works would be borne by the Gering. and Ft. Laramie Irrigation District and by the Goshen Irrigation District. 4), Of the 54,8L4 acres of irrigable land in the Gering & Ft. Laramie Irrigation District entirely served by the Ft. Laramie Canal, b,700 acres are watered by the Horse Greek Lateral system below Mile 6.0, the potential point of diversion for Braziel Reservoir water. All of the 52,487 acres in the 30shen Irrigation District are also served by the Ft. Laramie Canal. Lands already served by the Horse Creek Lateral system in the Goshen Irrigation District above t.'ile 6.0 IVould continue to receive water from that system. Economic studies indicate that the two districts are in good financial con- dition. There are few tax delinquencies, mortgages have been retired or reduced in recent years, and bank deposits are at a high level. Application of the Income-to-Land method of analysis indicates the average payment capacity of the two districts would be ';2.19 an acre. The Farm Budget method yields an averaee repayment capacity of (;2.81 an acre. . 11 (Rev. )