Research suggests that well-maintained parks, trails, and open spaces can positively impact surrounding property values and benefit local businesses by spurring economic activity within the surrounding area. These amenities can also provide a range of non-market value benefits to the surrounding community or ecosystem, which include those benefits not typically accounted for in market transactions. Furthermore, regional market analysis can help identify potential revenue-generating opportunities for the maintenance and operations of parks, trails, and open space amenities. This chapter provides examples of how to calculate market and non-market values of parks, trails and open space, as well as identify potential-revenue generating opportunities for their long-term maintenance and operation.
What you will take away from this course:
- Techniques for calculating both market and non-market values of parks, trails, and open space amenities.
- How regional market analysis can help identify potential revenue-generating opportunities for their maintenance and operation.
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Todd Poole is president, founder, and managing principal of 4ward Planning Inc., with more than 20 years of economic development experience, both as a private sector consultant and a public sector practitioner. On a national level, Todd has assisted cities, transit agencies, counties, nonprofit groups, and developers in crafting sustainable land-use strategies founded on key social, environmental, fiscal, and economic trends insights.