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<br />Estimation of recreational benefits is at a different stage than <br /> <br />estimation of damage reduction benefits. The empirical data base is <br /> <br />weaker and unknown elasticities of the demand functions introduce a <br /> <br />large uncertainty into their use. There does exist an abundant <br /> <br />literature on this topic, however. <br /> <br />An interesting discussion of intangible benefits was presented <br /> <br />recently as part of a Denver area UDPC study [25]. In this study <br /> <br />recreational benefits were computed based on an estimate of the <br /> <br />public's willingness to pay for various types of recreational oppor- <br /> <br />tunities. The discussion of intangibles presented is reproduced below <br /> <br />in order to stimulate further discussion about this topic. <br /> <br />Intangible Benefits (from [25]) <br /> <br />"Natural resource planning organizations in recent years have begun <br />to recognize the importance of the intangible components of resource <br />utilization. Almost by definition, intangible benefits were until <br />recently considered to be immeasurable and were not included as a part <br />of a project evaluation. <br /> <br />Intangibles include those components of environmental appreciation which <br />are not directly quantifiable in terms of dollar value or dollars spent <br />for their usage. Normally, intangibles accrue from the aesthetic, sci- <br />entific, educational, historical, and recreational aspects of natural <br />and man-made environments. "One additional intangible benefit, peculiar <br />to residents of flood hazard areas, is the peace of mind which can be <br />enjoyed by those safeguarded from future flood damages. <br /> <br />Much of the basin of lena Gulch, as well as the channel adjacent area, <br />has been gradually urbanized since 1935. All indications are th,t this <br />urbanization will continue to intensify in the future. The types of <br />urbanization range from typical Denver area suburban residential dev- <br />elopments to rural sprawl and commercial installations. <br /> <br />The 11 miles of channel provide many opportunities to identify in- <br />tangible benefits, revive additional ones which have been destroyed by <br />the urbanization, and create new ones. Certainly open space and recre- <br />ational opportunities abound. This is fortunate because recently the <br />people of Jefferson County voted to tax themselves for open space and <br />recreational development. This has the effect of proclaiming this <br />type of land use a high priority item for the people of Jefferson County. <br />If the lena Gulch drainageway improvements are properly implemented, <br />much interest in the area will be found at the city, county, state, <br />and federa I government leve 1 s. Th i s attent i on in i tse I f wi 11 tend to <br />foster better land use decisions based upon the public good within the <br />basin. <br /> <br />46 <br />