Update of Estimated Agricultural Benefits Attributable to Drainage and Flood Control in Willacy County, Texas
Ronald D. Lacewell, Roger Freeman, David Petit, Ed Rister, Allan Sturdivant, Luis Ribera, Michele Zinn
This report represents an update on the 2001 evaluation of benefits attributable to the South Main Drain in Willacy County. The results are limited to agricultural benefits due to reduced flood damages and improved drainage. The ABE model was updated to reflect current inputs and associated costs as well as the normalized prices. The 2006 Texas Cooperative Extension crop enterprise budgets were used to update the crop budgets in the ABE model. Since 2001, the costs have increased and normalized prices are dramatically less. The means that the expected benefits of the Raymondville Drain are substantially lower. In addition, the current discount rate of 5.125% was applied to calculate present value over the 50 year planning horizon.
The first sections of this report are a repeat of the base data. However, the soils and expected yields with applicable acres for each were developed just for the Raymondville Drain area of study. This study area information is presented initially in the report.