Abstract
The economic effects of water resource development projects may be more fully appraised by taking account of land value changes. An estimate is made of the anticipated land increment of a planned project, based on an analysis of value changes near existing TVA reservoirs. The estimated values of the land effected are found to vary, depending on site and locational characteristics. The value increases, in the case examined, are substantial and are due mainly to the value of the project as a recreational and amenity resource, although not all of the recreational benefits are thereby calculated. The results and methods used should have relevance to discussions of repayment policy, planning, management, and operating decisions, and in assessing the impact of other kinds of public investment.
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