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<br />. <br /> <br />. <br /> <br />water rights and possibilities of intra-basin transfers. Final <br />establishment of these scenarios and water rights priorities will <br />be coordinated with the CWCB before they are formatted as input <br />into the computer model. <br />The computer model will be used to simulate the hydrologic <br />operation of the basin and to determine the overall basin yield <br />and the yield of various facilities for various water uses. <br />Based on projected water uses and existing water rights, economic <br />output of the project will be estimated. The final economic crit- <br />eria for the study will be established in cooperation with the <br />CWCB. These criteria will be used to finalize the estimates of <br />direct and indirect benefits .that will result from each alternative. <br />Available economic impact models will be used to estimate the in- <br />direct benefits. These benefits, along with the finalized oper- <br />ation studies and finalized cost estimates, will be used to esta- <br />blish benefit and cost streams for the candidate project. These <br />streams will be levelized and converted to annual values, and <br />will then be used to develop a benefit-cost comparison for each <br />alternative. Sensitivity analyses will be conducted to deter- <br />mine the effect of variations in benefits, costs, and interest <br />rates. <br />The final step in the plan formulation process will be a <br />benefit-cost analysis. As in the preliminary plan formulation <br />phase, the reconnaissance plan formulation will be an iterative <br />process. Several iterations will be made to fine-tune the pro- <br />ject configuration or future use scenario. Close coordination <br />with the CWCB will be exercised to insure that the resulting pro- <br />ject will be consistent with the desires of the state as reflect- <br />ed by the CWCB. <br /> <br />PHASE V: REPORT PREPARATION <br />During this phase the results of the previous four phases <br />of the study, including the interim report, will be used to pre- <br />, <br />pare a draft report on the feasibility and configuration of the <br />. Cache la Poudre Project. This draft report will be submitted to <br /> <br />I-6 <br />