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<br />From Its analysis of alternative plans
<br />the planning organization will select a
<br />recommended plan. The plan selected
<br />will refiect the importJa.nce abtached to
<br />different objectives and the extent to
<br />which different objectives can be
<br />achieved by carrying out the plan.
<br />The recommended plan should be tor,:"
<br />muIated so that beneficial and adverse
<br />effects toward objectives reflect. to the
<br />best of current understanding and
<br />knowledge. the priorities and prefer-
<br />ences expressed by the public at all levels
<br />to be a!footed by the plan.
<br />In addition to the recommended plan
<br />with supporting analysts, other sIgnifi-
<br />cant alternative plans embodytng differ-
<br />ent priorities among the desired obJec-
<br />tives would be presented in the plann1ng
<br />report. Included with the presentation of
<br />alternative plans would be an analysts
<br />ot the tradeo.ffs among them. The trade-
<br />offs would be set forth 1n expllc1t terms,
<br />including the basis tor choosing the
<br />recommended plan from among the
<br />alternative plans.
<br />6. Cost allocation and reim7)ursement.
<br />When necessary to establish relmburse- .
<br />ment or cost-sharing policies an alloca-
<br />tion of appropriate costs would be made
<br />among the obJecttvas and among com-
<br />ponents of the objectives in such a man-
<br />ner- to insure that all objectives and
<br />components are treated comparably and
<br />receive their fair share of the advantages
<br />from a multIobjective plan.
<br />Reimbursement and cost-sharing poli-
<br />cies would be directed generally to the
<br />end that identifiable beneficiaries bear
<br />an equitable share of costs commensu-
<br />rate with benefits received in full cogni-
<br />zance of the multlobJectlves. Since exist-
<br />ing cost-sharing policies are not entirely
<br />. consistent with the proposed multi-
<br />objective approach to pla.nn.l.ng water
<br />and land resources, these policies wlll be
<br />reviewed and needed changes will be
<br />recommended.
<br />'1. The discount rate. The discount rate
<br />w1ll be established in accordance with
<br />the following. concept: The opportunity
<br />cost of all FederaJ investment activities.
<br />inclUding water resource projects. Is rec:-
<br />ognized to be the real rate of return on
<br />non-Federal investments. The best ap-
<br />proximation to the conceptually correct
<br />rate 18 the average rate of return on
<br />pr! vate 1nvestment In physical assets,
<br />including all specific taxes on capital or
<br />the eam1ngs of capital and excluding
<br />the Tate of general 1n1lation. weighted
<br />by the proportion of private investment
<br />in each major sector. The average rate
<br />of return on non-Federal investments is
<br />estimated at 10 percent.
<br />Recognizing both the objective of sub-
<br />sidizing water resource projects and the
<br />objective of . an efficient combination
<br />among and between Federal and non-
<br />Federal investment activities, the dis-
<br />count rate to be established on approval
<br />of the proposed principles and standards
<br />Is '1 percent for the next 5 years.
<br />8. National program development. The
<br />Councll will. formulate B. national pro-
<br />gram for Federal and federally assisted
<br />water and land resource actIvities, in--
<br />eluding" long-ranee schedule of priori-
<br />
<br />NOTICES
<br />
<br />ties among plans for projects, States,
<br />regions, and river baslns.
<br />9.. Water and land planning activities
<br />covered. The principles and standards
<br />would apply to Federal partlclpatlon
<br />with river basin commissions. States, and
<br />others in the preparation, formulation.
<br />evaluation. review, revision, and trans-
<br />mission to the Congress of plans for
<br />States. regions, and river basins; and for
<br />planning of Federal and certain feder-
<br />ally assisted water and land resource
<br />programs and projects as listed in the
<br />standards by the Water Resources
<br />Council.
<br />
<br />n. EVALUATION
<br />(Environmental Impact, Unavoidable
<br />Adverse Environmental Effects, and Ir-
<br />reversible and Irretrievable Commit-
<br />ments of Resources)
<br />The evaluation System. and system at
<br />accounts provide lor the full and sys-
<br />tematic display of. effects. Including
<br />those which are generally regarded as
<br />favorable or bene.flcJaJ, those 'which are
<br />generally rega.rded as unfavorable or
<br />adverse, and those lor which prefer-
<br />ences dltrer and may be considered
<br />either beneftciaJ or adverse depending
<br />upon the value Judgments of those ex-
<br />pressing the preference. The effects at
<br />an alternative plan on the environ-
<br />mental characteristics of an a.rea lUlder
<br />study or elsewhere -in the Na.tion would
<br />be evaluated for each alternative plan
<br />formulated. Thus. environmentaJ. ef-
<br />fects would be displayed for each alter-
<br />native plan whether formulated to
<br />achieve optimwn contributions to the
<br />national economic development obJec-
<br />tive, or 10rmulated to emphasize contri-
<br />butions to the envIronmental qualIty ob-
<br />jective, or, when speclfl.cally directed.
<br />formulated to emphasize contributions, to
<br />specified components of the regional de-
<br />velopment obJective. Environmental ef-
<br />fects would also be displayed for alterna-
<br />tive plans formulated. to reflect various
<br />levels of contributions to the national
<br />economic development, environmental
<br />quality, or regional obJectives. The dis-
<br />play of environmental ellects and the
<br />eft'ects on the other multlobJectives for
<br />all alternative plans formulated would
<br />provIde information which should taclll-
<br />tate planning decisions and reduce con-
<br />fIlct over such dec1sions.
<br />The proposed pr1nc1ples and standard"
<br />conform fully with the Intent and the
<br />spirit of the National Environmental
<br />PoUcy Act of 1969 by providing for full
<br />and systematic evaluation and display of
<br />environmental etrects for all altemative
<br />plans. .
<br />m. FORMULATION
<br />
<br />(Alternatives and the Relatlonsh1p Be-
<br />tween Bhort-Term Uses of the Environ-
<br />ment and ,Enhancement of Lontr-Term
<br />Productivity)
<br />
<br />The explicit coll51d.erat1on of the en-
<br />vironmental quality. objective in formu-
<br />lating plans for the use of the Nation's
<br />water and land resources prOvides op-
<br />portunity for consideration of slgniflcant
<br />enhancement of the quality 01 the en-
<br />vironment. Rather than slmPly display..
<br />
<br />24193
<br />
<br />Ing environmental impacts the planning
<br />process proposed In the Principles a.n.d
<br />StJandards would require that plans be
<br />directed to meeting current and pro-
<br />Jected needs and problems as identified
<br />by_the desires of people in such 8 man-
<br />ner that improved contributions are
<br />made to society's preferences for national
<br />economic development, environmental
<br />quality, and regional development. Social
<br />Impacts are also considered. At the out-
<br />set and throughout the planning process
<br />responsIble pla.nning orga.n1zatIon.s would
<br />consult appropriate Federal, regional,
<br />State, and local groups to ascertain the
<br />components of the multiobjecti.ves that
<br />are significantly related to the use and
<br />. management of the water and land re-
<br />sources in the planning setting. The
<br />identification of the specific components
<br />of objectives to be considered expllcitly
<br />In plan formulation will necessarily in-
<br />volve an appraisal of future economic,
<br />environmentaJ., and social conditions ex..
<br />pected without the plan as compared
<br />with those desired by people for the
<br />planning area.
<br />The proposed principles and standards
<br />would be applied at all levels of plan-
<br />ning as defined by the Water Resources
<br />COlUlcil. At. the broadest level of plan-
<br />ning, that is, framework studies and
<br />assessments, specification of the com-
<br />ponents of the environmental qua.lIty ob-
<br />Jective would be directed toward the
<br />alternative choices that should be con-
<br />'sldered and evalua.ted In the studY re-
<br />sponsive to the needs and BSplrations of
<br />the people. These alternative choices re-
<br />late to various views of the desires of
<br />people In the mix of objectives to be
<br />served in planning for the use of the
<br />Natton's water and land resources and
<br />reflect the alternative parameters and
<br />assWDptions upon which the planning is
<br />based, inclUding but not necessarily lim-
<br />ited to alternative asswnptions regard-
<br />ing the levels of future economic and
<br />populatton growth and environmental
<br />quality,
<br />At the next more detailed level of
<br />planning defined by the Water Resources
<br />Conncll, that is, regional or river basin
<br />'planning, specifications of the compo-
<br />nents of the environmental quality objec-
<br />tive would generally be concerned with
<br />alternative courses of action that should
<br />be considered and evaluated In plannIng
<br />for the use of water and land resources
<br />of an entire region or river basin as this
<br />is the level of considemtion of alte:rnative
<br />a.t which the environmental issues and
<br />tradeofls are most likely to be relevant
<br />to dec1sionmak1ng.
<br />At the most detailed level of planning
<br />defined by the Water Resouces COlUlcll,
<br />that is, 1mplementation stud1es, specifi-
<br />cation of the components of the environ-
<br />mental quality objective will generally
<br />be concerned with groups of Interrelated
<br />or individual plan elements where envi-
<br />ronmentalissues and tradeofls are likely
<br />to be signiflcant in the decisionma.king
<br />process.
<br />The success of multiobJective planning
<br />w11l depend on meaningful participation
<br />of interests concerned with each obJec-
<br />tive at each step in the planning proces.s.
<br />
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<br />FEDERAL REGISTER, VOL 36. NO. 245-TUESDAY, DECEMBER 21, 1971
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