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<br />", <br /> <br />IREiLAND, Sl~L}\lg,N. I'RvOr. 6. HOLME:~ <br />PRof'Cb"",-,Jt). CORr>ORATION <br /> <br />Mr. Hurris D. Sherm~n <br />January 26, 1976 <br />Page -2- <br /> <br />far less in 1964. construction was not eurlier con@enced be- <br /> <br />cause various questions, most of which are raised again by <br /> <br />the Weldon Valley landowners, were studied and restudied by <br /> <br />the Bureau of Reclama~ion and outside consultants hired by <br /> <br />the St,ate of Colorado. It cannot be stated too emphatically <br /> <br />that the Narrows Project had an environmental impGct study <br /> <br />on most questions regarding its construction well before the <br /> <br />National Environmental Protection Act was passed. <br /> <br />It is asserted that projects with cost-benefit <br /> <br />ratips of less than 1.5 to 1 are rejected by the Office of <br /> <br />Management and Budget. We find no support for this con- <br /> <br />tention. It is also asserted that costs for cost benefit <br /> <br />ratios must be tripled to reflect what actually occurs. We <br /> <br />can find no facts to support this statement and there can be <br /> <br />little doubt that benefits ~rom Colorado projects such as <br /> <br />the Colorado-Big Thompson Project have far exceeded the <br /> <br />Bureau's expectations. The Narrows is in the same valley uS <br /> <br />the Colorado Big Thompson proj ect and in many ..'ays is <br /> <br />related to that project. <br /> <br />The Bureau has consistently underestimated recre- <br /> <br />ation and irrigation benefits on many projects and this is <br /> <br />even more likely with a project like the Narrows which will <br /> <br />provide substantial recreation benefits near major metropolitan <br />