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CED-81-109 1 (1981-09-18)

handle is hein.gao/gaobabclv0001 and id is 1 raw text is: RELEASED AEcTRICTED -LtY V 0 Accountwr , r i' ! 04*se %e anpma q oi s pecific approval BY THE COVUPTROLLER GENERAL Report To The Chairman, Committee On Public Works And Transportation House Of Representatives OF THE UNTED STATES Corps Of Engineers' Acquisition Of Fish Hatchery Proves Costly The Corps of Engineers acquired the Crystal Springs Ranch fish hatchery, Twin Falls Coun- ty, Idaho, on March 18, 1981, for $3.425 mil- lion as part of its plan to compensate for steel- head trout losses caused by the Corps' build- ing dams on the Lower Snake River in Idaho. With the assistance of fish biologists, apprais- ers, and other experts, GAO reviewed the ap- praisal used to justify the price and found that the appraisal overvalued the hatchery because the appraiser overstated the production capa- bility and the value of the income the facility could generate. A comparable sale in June 1981 indicated that the Government may have paid substantially more than the facility was worth. If the Government raises the fish, the cost will be about $6 a pound, whereas if it contracts with commercial fish hatcheries, the cost could be only about $1 per pound. Legislation will be needed, however, to allow the Corps to contract with commercial hatcheries. CED-81-109 SEPTEMBER 18, 1981 116487 51: _q (/

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