The Costs and Benefits of Dam Removal in the Klamath  A Preliminary Assessment A Presentation for the Symposium on Dam Mod...
Overview <ul><li>Ecotrust: Who We Are </li></ul><ul><li>Project Background: Klamath River </li></ul><ul><li>3-Part Researc...
 
Project Background – The Klamath River
Overarching Research Agenda <ul><li>Preliminary Assessment </li></ul><ul><ul><li>Identify the likely costs and benefits of...
Research Project I: Objectives <ul><li>The overarching research objectives were to: </li></ul><ul><li>Identify and, if pos...
Research Project I: Methods <ul><li>Identification of likely impacts </li></ul><ul><ul><li>To existing benefits </li></ul>...
Research Project I: Proposing a Change <ul><li>Benefits of River: Status Quo </li></ul><ul><li>Agricultural water supply <...
Research Project I:  Likely Costs and Benefits <ul><li>Negative – Property owners – Loss of lake view, uncertainty of inun...
Klamath River Dam Removal:   Assessment of Inundated Lands A Presentation for the Symposium on Dam Modeling Conference Apr...
Research Project II:  Assessment of Inundated Lands <ul><li>The overarching research objectives were to: </li></ul><ul><li...
Research Project II:  Assessment of Inundated Lands <ul><li>Copco Lake and Iron Gate Reservoir </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>Copco Lake and Iron Gate Reservoir </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>Copco Lake and Iron Gate Reservoir </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>PacifiCorp Properties </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>PacifiCorp Properties </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>PacifiCorp Properties </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>Valuation Process </li></ul><ul><li>Create Use Scenarios </li>...
Research Project II:  Assessment of Inundated Lands <ul><li>Unknowns </li></ul><ul><li>Bathymetry </li></ul><ul><li>Sedime...
Research Project II:  Assessment of Inundated Lands <ul><li>Special Residential Value Considerations </li></ul><ul><li>Val...
Research Project II:  Assessment of Inundated Lands <ul><li>Residential Scenario </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>Agriculture / Grazing Scenario </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>Open Space Scenario </li></ul>
Research Project II:  Assessment of Inundated Lands <ul><li>Value Outcomes </li></ul>Residential Agriculture Open Space $1...
Research Project II:  Assessment of Inundated Lands <ul><li>Conclusions </li></ul><ul><li>More information will lead to a ...
Research Project III: Lake Adjacency and Residential Property Values <ul><li>The overarching research objectives were to: ...
Research Project III: Lake Adjacency and Residential Property Values <ul><li>Defining the Study Area </li></ul>
Research Project III: Lake Adjacency and Residential Property Values <ul><li>Sample Set </li></ul><ul><li>Residential Prop...
Research Project III: Lake Adjacency and Residential Property Values <ul><li>Form and Variables </li></ul>Dummy variable =...
Research Project III: Lake Adjacency and Residential Property Values <ul><li>Possible Next Steps  </li></ul><ul><li>(Once ...
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The Costs and Benefits of Dam Removal in the Klamath

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The Costs and Benefits of Dam Removal in the Klamath

  1. 1. The Costs and Benefits of Dam Removal in the Klamath A Preliminary Assessment A Presentation for the Symposium on Dam Modeling Conference April 2007 Credit: American Rivers
  2. 2. Overview <ul><li>Ecotrust: Who We Are </li></ul><ul><li>Project Background: Klamath River </li></ul><ul><li>3-Part Research Agenda </li></ul><ul><li>Research Project 1: Preliminary Assessment </li></ul>
  3. 4. Project Background – The Klamath River
  4. 5. Overarching Research Agenda <ul><li>Preliminary Assessment </li></ul><ul><ul><li>Identify the likely costs and benefits of dam removal </li></ul></ul><ul><li>Inundated Lands </li></ul><ul><ul><li>Conduct scenario building around likely use options for the reclaimed lands and estimate the associated economic value </li></ul></ul><ul><li>Property Values </li></ul><ul><ul><li>Estimate the economic value of varying levels of lake adjacency for residential properties in the study area </li></ul></ul>
  5. 6. Research Project I: Objectives <ul><li>The overarching research objectives were to: </li></ul><ul><li>Identify and, if possible, quantify both the market and non-market values associated with removal of 4 dams on the Klamath River (i.e. J.C. Boyle, Copco 1, Copco 2 and Iron Gate) </li></ul><ul><li>Assess the economic impact dam removal would have on Siskiyou County </li></ul><ul><li>Perform a comparative analysis that examines the costs and benefits of dam removal </li></ul>
  6. 7. Research Project I: Methods <ul><li>Identification of likely impacts </li></ul><ul><ul><li>To existing benefits </li></ul></ul><ul><ul><li>Created by dam removal </li></ul></ul><ul><li>Review of existing research </li></ul><ul><li>Scenario building </li></ul><ul><ul><li>Secondary Data Sources </li></ul></ul><ul><ul><li>Input-Output Analysis </li></ul></ul><ul><ul><li>Benefit Transfer </li></ul></ul>Credit: American Rivers
  7. 8. Research Project I: Proposing a Change <ul><li>Benefits of River: Status Quo </li></ul><ul><li>Agricultural water supply </li></ul><ul><li>Industrial service supply </li></ul><ul><li>Groundwater recharge </li></ul><ul><li>Freshwater replenishment </li></ul><ul><li>Hydropower generation </li></ul><ul><li>Recreation </li></ul><ul><li>Habitat </li></ul><ul><li>Preservation of rare and endangered species </li></ul><ul><li>Migration, spawning and reproduction of aquatic organisms </li></ul><ul><li>Stakeholders </li></ul><ul><li>Electricity consumers </li></ul><ul><li>Local tribes </li></ul><ul><li>Farmers </li></ul><ul><li>Commercial and sport fishermen </li></ul><ul><li>Recreationalists </li></ul><ul><li>Outdoor enthusiasts and conservationists </li></ul><ul><li>Local communities </li></ul><ul><li>Fish and other species </li></ul><ul><li>Property owners </li></ul><ul><li>PacifiCorp </li></ul>
  8. 9. Research Project I: Likely Costs and Benefits <ul><li>Negative – Property owners – Loss of lake view, uncertainty of inundated lands </li></ul><ul><li>Neutral/Positive – Inundated lands use </li></ul><ul><li>Negative – Loss of property taxes if property values decline </li></ul><ul><li>Neutral/Positive – Inundated lands </li></ul>Property Values <ul><li>Positive – Commercial fishers, Processing plants, Recreational fishers, Local tribes </li></ul><ul><li>Positive </li></ul>Fishing Industry <ul><li>Unknown </li></ul><ul><li>Positive – Spending from removal, tourism </li></ul><ul><li>Negative – Loss of jobs and taxes </li></ul>Local Economy <ul><li>Positive – Fisheries, Visitors, Conservationists, Fish </li></ul><ul><li>Positive – Likely increases in sport fishing industry </li></ul>Fish Populations <ul><li>Positive – Local Tribes </li></ul><ul><li>Positive </li></ul>Cultural Values <ul><li>Unknown – Cost of new source </li></ul><ul><li>Negative – If electrical rates increase </li></ul><ul><li>Neutral – Not responsible for finding alternative power source </li></ul>Power <ul><li>Negative – Whoever pays cost </li></ul><ul><li>Positive – Jobs and Spending </li></ul>Dam Deconstruction Other Stakeholders Siskiyou County Impact
  9. 10. Klamath River Dam Removal: Assessment of Inundated Lands A Presentation for the Symposium on Dam Modeling Conference April 2007
  10. 11. Research Project II: Assessment of Inundated Lands <ul><li>The overarching research objectives were to: </li></ul><ul><li>Describe the size, ownership, and additional characteristics of the exposed lakebeds </li></ul><ul><li>Identify potential uses and constraints of exposed lakebed properties </li></ul><ul><li>Quantify potential land values </li></ul>
  11. 12. Research Project II: Assessment of Inundated Lands <ul><li>Copco Lake and Iron Gate Reservoir </li></ul>
  12. 13. Research Project II: Assessment of Inundated Lands <ul><li>Copco Lake and Iron Gate Reservoir </li></ul>
  13. 14. Research Project II: Assessment of Inundated Lands <ul><li>Copco Lake and Iron Gate Reservoir </li></ul>
  14. 15. Research Project II: Assessment of Inundated Lands <ul><li>PacifiCorp Properties </li></ul>
  15. 16. Research Project II: Assessment of Inundated Lands <ul><li>PacifiCorp Properties </li></ul>
  16. 17. Research Project II: Assessment of Inundated Lands <ul><li>PacifiCorp Properties </li></ul>
  17. 18. Research Project II: Assessment of Inundated Lands <ul><li>Valuation Process </li></ul><ul><li>Create Use Scenarios </li></ul><ul><ul><li>Residential </li></ul></ul><ul><ul><li>Agricultural </li></ul></ul><ul><ul><li>Open Space </li></ul></ul><ul><li>Apply $ / Acre Values </li></ul><ul><ul><li>Based on Comparables </li></ul></ul><ul><ul><li>High – Low Value Estimates </li></ul></ul>
  18. 19. Research Project II: Assessment of Inundated Lands <ul><li>Unknowns </li></ul><ul><li>Bathymetry </li></ul><ul><li>Sediment / Soil </li></ul><ul><li>Assumptions </li></ul><ul><li>A zoning change could take place </li></ul><ul><li>Riparian buffers will be enforced </li></ul><ul><li>A percentage of the land is developable (aka Feasibility) </li></ul>
  19. 20. Research Project II: Assessment of Inundated Lands <ul><li>Special Residential Value Considerations </li></ul><ul><li>Value = $ / Acre (high or low) x % Developable </li></ul><ul><ul><li>No build (Riverfront only) = 0% </li></ul></ul><ul><ul><li>Low build = 50% </li></ul></ul><ul><ul><li>High build = 86% </li></ul></ul><ul><li>Example: Highest Potential Value = ((High Build * Acreage) * High Value)) Riverfront + ((High Build * Acreage) + High Value Estimate)) Non-riverfront </li></ul>
  20. 21. Research Project II: Assessment of Inundated Lands <ul><li>Residential Scenario </li></ul>
  21. 22. Research Project II: Assessment of Inundated Lands <ul><li>Agriculture / Grazing Scenario </li></ul>
  22. 23. Research Project II: Assessment of Inundated Lands <ul><li>Open Space Scenario </li></ul>
  23. 24. Research Project II: Assessment of Inundated Lands <ul><li>Value Outcomes </li></ul>Residential Agriculture Open Space $134,788,660 High Value $57,666,400 Median Value $4,132,000 Low Value $14,910,000 High Value $2,485,000 Low Value $11,264,000 High Value $2,816,000 Low Value
  24. 25. Research Project II: Assessment of Inundated Lands <ul><li>Conclusions </li></ul><ul><li>More information will lead to a smaller range of values </li></ul><ul><ul><li>Bathymetry </li></ul></ul><ul><ul><li>Soil and Sediment </li></ul></ul><ul><ul><li>Demand at time of sale </li></ul></ul><ul><li>Aid potential mitigation </li></ul><ul><li>Basic methodology </li></ul><ul><li>Potential impacts to adjacent owners </li></ul>
  25. 26. Research Project III: Lake Adjacency and Residential Property Values <ul><li>The overarching research objectives were to: </li></ul><ul><li>Build a database which includes property and pricing information for the Copco/Iron Gate areas on the Lower Klamath River; and </li></ul><ul><li>Perform a comparative analysis to assess any differences in current property values specifically associated with lake front ownership or lack thereof. </li></ul>
  26. 27. Research Project III: Lake Adjacency and Residential Property Values <ul><li>Defining the Study Area </li></ul>
  27. 28. Research Project III: Lake Adjacency and Residential Property Values <ul><li>Sample Set </li></ul><ul><li>Residential Properties </li></ul><ul><li>Sold between 1998 - 2006 </li></ul><ul><li>Three distinct areas </li></ul><ul><li>823 Samples </li></ul>
  28. 29. Research Project III: Lake Adjacency and Residential Property Values <ul><li>Form and Variables </li></ul>Dummy variable = 1 if property has a view of a lake VIEW_LAK Sale year of the property minus 1998 (first year included in dataset) SALE_YR Dummy variable = 1 if property is across the street from a lake PROX_LAK Dummy variable = 1 if property is on a lake ON_LAK The natural log of the sale price per acre LN_SALA The natural log of per acre assessed land value LN_ALVA Dummy variable = 1 if property has a residential structure HOME Total acreage squared ACRES2 Total acreage of the property ACRES Description Name
  29. 30. Research Project III: Lake Adjacency and Residential Property Values <ul><li>Possible Next Steps </li></ul><ul><li>(Once adjacency analysis is completed) </li></ul><ul><li>Integrate Inundated Lands Scenarios with Lake Adjacency value </li></ul><ul><ul><li>Further describe the relationship between newly exposed land and existing properties </li></ul></ul><ul><ul><li>Identify the net impact of new uses on existing property values </li></ul></ul>

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