EXAMPLE $7\mathrm{.}1$

The citizen$-$based Capital Improvement Projects $($CIP$)$ Committee for the city of Dundee has recommended a $$25$ million bond issue for the purchase of greenbelt$/$floodplain land to preserve low$-$lying green areas and wildlife habitat. Developers oppose the proposal due to the reduction of available land for commercial development. The city engineer and economic development director have made preliminary estimates for some obvious areas over a projected $15-$year planning horizon. The inaccuracy of these estimates is made very clear in a report to the Dundee City Council. The estimates are not yet classified as costs, benefits, or disbenefits.