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HomeMy WebLinkAboutDabob Bay NA economic assess Bocc Mtg Oct 7 2024Economic Assessment of Dabob Bay Natural Area Expansion Peter Bahls, Director, Northwest Watershed Institute With assistance from Kevin Hitchcock, GIS Coordinator, Jefferson County State Regs and policy Private Regs Unencumbered Timber value Bare Land Value Trust Land Value? Example $20M total $18M if Private land $10M if DNR State Regs and policy Private Regs Unencumbered Timber value Bare Land Value Replacement Land $18M if no extra state encum- brances Timber value nearly doubles Cash for timber option 2024 Dabob Bay NA expansion -3,943 ac Forest Trust -2,580 ac School Trust -40 ac Private -1,287 ac Other (Right of Way) 36 ac Polygons -DNR Forest Stand Age data Forest Trust lands within the Expanded Dabob Bay Natural Area –Very rough estimate of timber value ENCUMBRANCES a burden or impediment. "the horse raised its hind leg as if to rid itself of an encumbrance” Regulatory or Policy Constraints on timber harvest that apply to state lands (above and beyond regs for private timber lands) VRH –Deferred Globally Rare Forest Types Legacy Forests VRH –Deferred 696 acres Regulatory set asides that apply to state lands under the HCP Riparian and wetland buffers Marbled murrelet Steep slopes Assumption: No DNR Harvest, 50% value harvest by Private Globally Imperiled (G2) Forest Types 639 acres DNR is obligated to protect G1 and G2 plant associations of high quality under their voluntary FSC certification standards Assumption: No DNR harvest, 100% private harvest Legacy Forests 399 acres (193 acres not also G2 imperiled forest) Structurally complex forests Legal challenges based on DNR not following their own policy for protecting 10% older forest (ie Crocker) Assumption: No DNR harvest, Private 100% harvest Combined Encumbrances under State regs and policy Encumbered 1,266 ac and $13.4 M Not encumbered 1,314 ac and $5.9 M 49% of acres encumbered 70% of timber value encumbered Total Timber Value if appraised as private 2,580 ac and $19.3 M (of $21.3 M) Most of the older forest age classes are encumbered CURRENT SITUATION: $5.9 M in timber, most too young to harvest REPLACEMENT timber with no state encumbrances: $19.3 M in timber (additional $13.4 M in timber value over current) Land Value = 2,000/ac x 2,580 ac = $5.2 M TOTAL $19.3 M timber + $5.2M land = $24.5 M Natural Climate Solutions account of Climate Commitment Act: $70 M includes 2,000 acres approved 671 acres of older forest selected at Dabob Bay by DNR in 2023 Need for additional NCS and/or Trust Land Transfer funding to complete.