In studying flood control projects, the director shall give full consideration to all beneficial uses of the state’s water and other natural resources, including, but not limited to, irrigation, generation of electric energy, municipal and industrial consumption of water and power, recharge of groundwater basins, preservation and development of fish and wildlife resources and recreational facilities in order that recommendations may be made as to the feasibility of such projects and the method of financing feasible projects. Nothing in this chapter shall affect existing water rights.