A study released Tuesday by Virginia-based KeyLog Economics indicates that the proposed Atlantic Coast Pipeline (ACP) could cost Buckingham as much as $20.8 million in one-time costs and annual losses of as much as $7.1 million.

The report estimates that property values could decline by $2.9 million in the project’s evacuation zone and by $1.2 million near the proposed compressor station site. “The pipeline route would be visible (for) 54 percent of homeowners in Buckingham,” a release summarizing the report states.

Dominion is leading Atlantic Coast Pipeline LLC, a joint venture seeking federal approval of a 550-mile natural gas pipeline that would span Buckingham, Cumberland and Prince Edward counties. ACP LLC wants to build a 41,000-horsepower gas-fired station on Route 56 between Shelton Store and Union Hill roads.

“Applying one health study on compressor pollution impacts within this two-mile radius … to Buckingham’s population would result in 334 people experiencing respiratory impacts, 273 sinus problems and 184 additional people would experience sleep

disturbances/severe headaches,” stated a release from Friend of Buckingham (FOB) regarding the report.

In the report, which examined the potential economic impacts in August, Nelson, Buckingham and Highland counties, KeyLog states that “the loss of use and enjoyment of properties would be felt most acutely by owners of parcels the proposed 75-foot-wide right of way crosses or touches. Forestland will be stripped or converted to shrub or grassland, eliminating the prospect of future timber income. Cropland in the right of way cannot be managed in the same way due to restrictions on the landowner’s ability to cross the pipeline corridor with heavier farm equipment. Farm and forestland adjacent to the right of way would become less valuable if it becomes more expensive to reach woodlots or fields on the far side of the right of way.”

Spencer Phillips, founder of Key-Log Economics said, “Putting the stream of costs into present value terms and adding the one-time costs, the total estimated cost of the ACP in Highland, Augusta, Nelson and Buckingham Counties is between $6.9 and $7.9 billion.”

Dominion said that the new report “lacks factual basis and credibility.”

“All you have to do it look at the experience of neighboring counties here in Virginia to see that,” said Dominion spokesman Frank Mack. “Albemarle, Augusta and many other counties with pipelines thrive.”

He said the report also ignores “decades of credible research and the real-world experience of communities, not only  in Virginia, but elsewhere around the country.”

“I would encourage every Buckingham resident to become familiar with KeyLog’s findings,” said Chad Oba, FOB chair. “This report uncovers previously undisclosed costs of Dominion’s mega-industrial project for our county … No amount of tax revenue can buy off citizens who are sincere about protecting their community and their beautiful surroundings.”

According to Dominion, Buckingham would see about $8.1 million in tax revenue from the pipeline during the first 10 years of the project.

“This is a bad deal for Buckingham County and a bad deal for Virginia,” said Joseph Abbate, a staff member of Yogaville Environmental Solutions (YES). “This means that Dominion has greatly overstated the benefits of this project to the county — we’re going to lose economically, not win. Dominion’s costs are mounting already, due to route changes. Any revenue received from Dominion will have to be spent to fix our roads, to buy additional fire trucks and to pay for independent emissions monitoring.”

“This important study confirms what we’ve been saying for months — more independent study is needed before (the Federal Energy Regulatory Commission) can certify the ACP,” said Ernie Moore, president of Satchidananda-Ashram Yogaville, a spiritual community in northern Buckingham.

The Yogaville community would be approximately a half mile from the proposed pipeline and roughly 5.5 miles from the proposed compressor station, according to the release.

“In Buckingham, 471 people live within two miles of the proposed site — the area most heavily impacted by compressor pollution,” the release stated.

According to KeyLog, 1,548 people live in 815 homes in the pipeline’s evacuation zone.

“The estimated impacts on sale prices for properties in the right of way do not take into account the fact that more than three out of four prospective buyers would not buy such properties at any price. Furthermore, the report recognizes that property value losses would likely be more severe for homeowners within a half mile of the pipeline, yet this distinction is not factored into the loss estimates.”

“Last year, two of the most highly respected and experienced economic consulting firms in the country performed economic impact studies for the ACP,” Mack said. “These studies clearly demonstrate the substantial economic benefits the project will bring to Virginia, including hundreds of millions of dollars in annual energy cost savings, millions of dollars in annual tax revenue for local governments and hundreds of millions of dollars in economic activity.

Highlanders for Responsible Development, Augusta County Alliance, Friends of Nelson, FOB and YES commissioned the study.