Mainstream Appraisals
26 Maple Road
P.O. Box 947
North Hampton, NH 03862
(603) 964-7113
Fax: (603) 964-4077

Member American Society of Appraisers.

C U R R I C U L U M   V I T A E
G E O R G E   K.   L A G A S S A,   P H. D.,   A S A



Principals of Appraisal for Ad Valorem Taxation of Communications, Energy
           and Transportation Properties, Wichita State University, August 1996,            1997,1999, 2000, 2003
American Society of Appraisers, Machinery/Technical Specialties,
           Designated ASA, 1998
Appraisal Institute Coursework, 1987 - 92 and continuing
Ph. D. Political Science, State University of New York at Buffalo, 1976
           Dissertation: "Megawatts, Megadollars and the Environment:
           Transmission Line Siting in New York State", University Microfilm
           AAD 77-03554.
A. B. cum laude, Government, Kenyon College, 1970
           Designated Woodrow Wilson Fellow, 1970

Professional Experience
1983 - Present Principal
Mainstream Associates
North Hampton, NH 03862

Principal Duties:
Consulting practice specializing in the appraisal and valuation of electric utility assets, serving municipalities and the power industry with ad valorem tax assessment, project feasibility analysis, regulatory compliance, and utility negotiation.

  • Prepared over 150 hydroelectric appraisals and valuations of nuclear, wood burning, and natural gas combustion power plants, transmission and distribution lines, dams & water rights in the USA and Latin America.
  • Managed acquisition, development, regulatory compliance, negotiation of power sales and wheeling contracts, and operations of fourteen independent power projects.
  • Contributing Editor, Independent Energy Magazine, (1988 - 1998), contributed 30+ articles on industry affairs and public policy issues (copies available on request).
  • Own and manage operations of a hydroelectric station in Ashland, NH (President, Freshwater Hydro, Inc., 1990 - present).
  • Appointed by Governors Judd Gregg, Stephen Merrill and Jeanne Shaheen to represent the hydroelectric industry on the NH Rivers Management Advisory Committee (1991,1994, 1997, 2000).
  • Adjunct Professor of Political Science, Keene State College, Keene, NH (1994-95)
1981 - 1983 President
Mill Pond Hydro Corporation
40 Bridge Street
Portsmouth, NH 03801

Principal Duties:
Managed New England regional subsidiary of National Hydro Corporation, Boston, MA. Directed successful bids for state and municipally-owned dams and negotiations of partnership/ joint venture agreements for privately owned sites.

1980 - 1981 Program Manager for
Small Power Production
Massachusetts Energy Office
Boston, Massachusetts

Principal Duties:
Managed state energy office program, with support staff of three, for encouraging dispersed small scale electric power generation using water, wind, and photovoltaic systems. Supervised evaluation of municipal and state agency funding proposals for development of small power projects in Massachusetts.

1974 - 1980 Asst. Prof. of Political Science
University of New Hampshire
Durham, NH 03824

Principal Duties:
Taught graduate and undergraduate courses in American public policy and bureaucracy and specialized courses in energy and natural resource management. Played principal role in teaching and curriculum development in the graduate program leading to the Masters degree in Public Administration (MPA). Conducted research on U.S. energy policy, co-edited (with Gregory Daneke) Energy Policy and Public Administration, Lexington Books, 1980.

1973 - 1974 Legislative Assistant to
Senator Thomas F. McGowan, Chair
State Senate Committee on Banks
Albany, New York

Principal Duties:
Completed research on banking policy issues affecting consumers, commercial banks and thrift institutions; conducted survey of competitiveness among banks in New York State; engaged in day to day politicking affecting state banking policy.

Professional Memberships/Community Activities

Licensed General Appraiser in NH (NHCG-223), VT (80-0000140), NY          (46000038494), Maine (ME-CG 1429), and Massachusetts (MA-CG 5589). Accredited Senior Appraiser (ASA), American Society of Appraisers, Machinery           & Technical Specialties (Boston Chapter)
Co-Chair, Hydro Industry Advisory Panel, Low Impact Hydropower Institute,           1999-2003
Selectman, Town of North Hampton, NH 1997-2002 (Chair 1999-2000)
Member, School Board, Town of North Hampton, NH (2000-2003)
Board of Directors, Rockingham Community Action Agency, 1991 - 2001
           (Chair, 1992 - 1995)
Member, NH Rivers Management Advisory Committee, 1991 - Present
Member, North Hampton Planning Board, North Hampton, NH, 1989 - 1998
Commissioner, Rockingham County Planning Commission, 1991 - 1995
Member, Hampton Rotary Club, 1988 - 1993 (Sec'y, 1989-90; VP,1990 -91),
Member, Portsmouth Rotary Club, 1996 - 1998
Board of Directors, Granite State Hydropower Association, 1983 - Present
           (President, 1983 - 86)

George K. Lagassa, Ph.D., ASA
Panel participation, teaching, papers and publications

           "Regulatory Risk and Power Plant Valuation", Electric Power Asset Valuation, Santa Monica, CA, April 2002
           "The Value of Regulatory Risk," Elecric Power Asset Valuation, Chicago, IL, July 2001.
           "Power Plant Value and Regulatory Risk under Electric Deregulation," presented at Electric Asset Valuation, San Antonio, Texas, January 23, 2001.
            "Assessing and Valuing Utility Facilities under Deregulation: One Year Later," 52nd Annual Maine Property Tax College, Lewiston, Maine, August 4, 1999.
            "How to Review and Critique Appraisals," IAAO Educational Session, Newburgh, NY, March 23, 1999.
            "Valuing the Intangible Benefits of Hydropower," presented at Electric Asset Valuation, Orlando, Florida, February 23, 1999.
            "Property Taxation of Electric Utility Assets," 51st Annual Maine Property Tax College, Lewiston, Maine, July, 1998.
            "The Impact of Property Taxes on Hydro Asset Values," presented at HydroVision '98, Reno, Nevada, July 1998
            "Valuing Hydroelectric Assets: A Case Study," Proceeding of HydroVision '98, Reno, Nevada, July 1998.
            "Fair Market Value of Electric Power Assets," presentation at Annual Meeting New York State Assessors Association, Monticello, NY, September 1996.
            "Methods for Appraising International Hydro Projects," paper presented at Waterpower '93, International Conference on Hydropower sponsored by American Society of Civil Engineers, Nashville, Tennessee, August 1993.
            "Regional Impacts of Environmental Regulation," panel participant, Competing Visions? Environmental Policy and the Economy, 3rd Annual Environmental Law Society Conference, Vermont Law School, South Royalton, VT, April 2, 1993.
            "Fair Market Value vs. Net Investment: Competing Standards for Appraising Relicensed Hydro Stations Lost to Competitors", paper presented at Waterpower '91 International Conference on Hydropower sponsored by American Society of Civil Engineers, Denver, Colorado, July 1991.
            "What's Your Hydro Project Worth?" Alternative Sources of Energy Magazine, October, 1988.
            "Hydroelectric Site Appraisal: Art or Science?", paper presented to Small Hydro 88, Sponsored by Ontario Energy Ministry, Toronto, Ontario, July 6, 1988.
            "The Feasibility of Small Scale Hydropower," paper presented at conference sponsored by Swedish Trade Commission, New England Governors Conference, New England Power Pool, and New England Conference of Public Utilities Commissioners, Boston, MA, October, 1987.
            "A Challenge to Myopia," Hydro Review, Winter, 1984.
            "Environmental Implications of Renewable Energy Resources," Panel Chair, Small Scale Hydropower, at Electric Utilities and Renewable Energy: Environmental and Regulatory Issues, Conference sponsored by Edison Electric Institute and Renewable Energy Institute, Boston, MA, November 1984.
            "State Utility Commissions as Vestigial Organs: The Need for Regional Governance of Electric Utilities," Kansas Law Review, Winter 1980.
            Energy Policy and Public Administration, co-edited with Gregory A. Daneke, Lexington Books, 1980.

George K. Lagassa, by-line articles published as Contributing Editor, Independent Energy Magazine, 1989 - 1997:

"The Value of Hydropower," July/August, 1997
"The Stranded Cost Question," November 1996
"Retail Wheeling and Hydropower," March 1995
"When FERC and States Collide," October 1994
"Fighting for Economic Survival," April 1994
"Hydropower's Information Highway," February 1994
"Water Rights in the States," October 1993.
"Exploring Turbine Markets," July/August 1993.
"Controlling the Flow," May/June, 1993
"Controlling Power," April 1993,
"Focusing on Dam Safety," January, 1993.
"Small Hydro Goes International," November, 1992.
"Repowering Hydro," October 1992.
"Clashing World Views," September 1992.
"Working with the FERC," April 1992.
"Planning for Success," with John Anderson, January 1992
"The New River Conservationists," November 1991.
"Losing out at Relicensing," September 1991.
"Changing Hydro Strategies," July/August 1991.
"Financing Vidalia," May/June 1991.
"Changing Hydro Policy," April 1991.
"Success at Vidalia," March 1991.
"Tempest at Glen Canyon," January 1991.
"Telling Hydro's Story," November 1990.
"Recruiting Personnel," October 1990.
"Complying with the FERC," September 1990.
"Testing Turbine Efficiency," July/August 1990.
"New Monitoring Devices," May/June 1990.
"Streamlining Hydro Licensing," April 1990.
"North American Turbine Companies," March 1990
"Shifting Strategies," February 1990.
"Turbine Competition Sharpens," January 1990.
"Creative Mitigation," with Fred Ayer, October 1989.
"Refining Hydropower," September 1989.
"ECPA Comes of Age," July/August 1989.
"What Price Dam Safety," May/June 1989.
"River Protection Moving Along," April 1989.
"FERC Challenges Unlicensed Projects," March 1989.


Mainstream Associates
26 Maple Road -- P.O. Box 947
North Hampton, NH 03862
(603) 964-7113 -- Fax: (603) 964-4077

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