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2017 Open Space Conference - Economic Reports on the Value of Land


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Economic Reports on the Value of Land - Breakout Group (4)

- Andrea Mackenzie, General Manager, Open Space Authority in the Santa Clara Valley (Moderator)
- Patrick Kallerman, Research Manager, Bay Area Council Economic Institute
- Robert Doyle, General Manager, East Bay Regional Park District
- Carol Johnson (per Robert), Assistant General Manager, East Bay Regional Park District
- Mary Creasman, California Director of Government Affairs, The Trust for Public Land

These panelists spoke at the 2017 Open Space Conference, Eyes on the Horizon, Boots on the Trail on May 18, 2017 at the Craneway Pavilion in Richmond, CA. More info on the Bay Area Open Space Council's website:

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2017 Open Space Conference - Economic Reports on the Value of Land

  1. 1. | @bayareaeconomy |
  2. 2. | @bayareaeconomy | What are Ecosystem Services ? Ecosystem services are the benefits that people receive from natural systems
  3. 3. Ecosystem Services • Water Supply • Flood Risk Reduction • Local Food • Tourism/Recreation/Health • Biodiversity / Habitat • Climate Stability • Pollination
  4. 4. | @bayareaeconomy | Value of Ecosystem Services in Santa Clara County $1.6 billion to $3.9 billion per year of Natural Capital Goods & Services
  5. 5. | @bayareaeconomy | Panelists Patrick Kallerman Bay Area Council Economic Institute Carol Johnson East Bay Regional Park District Mary Creasman Trust for Public Land
  6. 6. Bay Area Balance: Preserving Open Space, Addressing Housing Affordability Patrick Kallerman Bay Area Council Economic Institute May 2017
  7. 7. | @bayareaeconomy | A special place to call home • The Bay Area is a spectacularly beautiful place to live, and home to one of the most productive economies in the world. • However, sustained economic growth has exacerbated long-developing housing and transportation crises, in turn putting increased pressure on open spaces and working lands… • We now face a critical challenge: how to support inclusive growth while maintaining a balance of open land that makes the Bay Area such a unique region?
  8. 8. | @bayareaeconomy | Key findings • The Bay Area’s natural capital provides billions in benefits to citizens and the economy every year, yet significant portions of the Bay Area’s greenbelt remain at risk; • Facilitating infill development can help alleviate the housing crisis while also promoting sustainable growth patterns, yet the Bay Area is falling behind; • New policies, tools – and maybe most importantly – new coalitions are needed if the Bay Area is going to make sustainable growth a reality
  9. 9. | @bayareaeconomy | Land use in the Bay Area 0% 10% 20% 30% 40% 50% 60% Agriculture Forests and Woodlands Urban/Built-Up Rural Residental Water Bodies Land Use in the Bay Area
  10. 10. | @bayareaeconomy | Valuing natural landscapes? • Economics might provide a framework, but to many putting a price tag on something seen as priceless is counterintuitive; • Early studies focused on “direct” impacts, such as receipts from entrance fees to parks, or sales of agriculture; • Studies moved to measure “indirect” impacts, such as the effect of parks on home prices, and eventually to the concept of natural capital.
  11. 11. | @bayareaeconomy | So what are “ecosystem services”?
  12. 12. | @bayareaeconomy | So how do we measure these?
  13. 13. | @bayareaeconomy | Results from Bay Area analyses • An analysis by the East Bay Regional Park District found the park system to have an annual economic value of $500 million per year; • Healthy Lands & Healthy Economies found the economic value of natural lands in Santa Clara County to be between $1.6 and $3.9 billion per year. • Extrapolating these results would put the value of natural capital in the Bay Area at between $5 and $14 billion per year.
  14. 14. | @bayareaeconomy | Pressure moving to the megaregion
  15. 15. | @bayareaeconomy | Keeping climate goals in mind
  16. 16. | @bayareaeconomy | Recommendations • Secure broad-based funding for parks and for other natural and agricultural lands; • Streamline approvals for new housing developments that meet state and local sustainability goals; • Begin to seriously plan for the megaregion; • Inform development decisions with values of natural land and economic consequences of lack of sustainable development.
  17. 17. An Economic Analysis of the East Bay’s Unique Environment February 2017 Quantifying the Quality of Life In the East Bay Regional Park District
  18. 18. About • Created by Oakland-based Economic Planning & Systems (EPS) – in partnership with EBRPD • A follow-up to the first Park District analysis, conducted in 2000 by EPS • Economic analysis based on the United Nations Millennium Ecosystem Assessment (MA) • Consulted other park agencies’ analyses including The Trust for Public Land and Santa Clara Valley Open Space Authority. About
  19. 19. Value and impact • Report Measures • Economic Value • Regional Economic Impact • Economic value estimated via 5 inter-related lenses: • Ecosystem services • Recreation value • Property value • Health care value • Additional benefits
  20. 20. Numbers to note The East Bay Regional Park District: • 25 million visits annually • Provides a range of benefits that total about $500 million annually. • Produces a return of investment of 400% with its annual General Fund budget of about $127 million. • Generates an estimated $191 million in annual economic activity in the East Bay that would not occur its absence.
  21. 21. Recreation Value Economists commonly define the economic benefits from recreation using measures of participants’ ‘willingness to pay’ for activities, regardless of market price. We looked at 10 categories of recreational activities such as biking, hiking, equestrian, bird watching, and dog walking. Recreation value estimate = $200 million annually
  22. 22. Property Value The value of real estate adjacent to and near parks and open spaces : • Identified via GIS and county assessor data • Estimated current market values • Calculated value premium attributable to District lands Residential property value estimate = $65 million annually
  23. 23. Health Care Value Number of individuals who would not exercise regularly if not for the Park District = 60,000 Healthcare benefit = $20 million annually
  24. 24. Additional Ecosystem ServicesEcosystem services describes the array of green infrastructure benefits provided by preservation of open space, habitat, agricultural land, parkland, and water bodies. Examples include: • Water supply replenishment • Air quality improvement • Habitat protection • Flood risk reduction Additional Ecosystem Services annual value = $215,000,000
  25. 25. Annual Economic Value of the District $200million $65million $20million $215million Recreation Value Property Value Healthcare Value Additional Ecosystem Service $500 million Economic Value annually Measures worth to residents.
  26. 26. Conclusions • The East Bay Regional Park District plays a huge and irreplaceable role in the East Bay economy. • The Park District is an important part of the East Bay’s livability and quality of life. • The economic value and impact of the Park District has increased significantly since the initial report in 2000. • The Park District is interconnected with many aspects of life in the East Bay including jobs, transportation, public health, and housing. Conclusions
  27. 27. Contac ts Carol Johnson Robert E. Doyle AGM Public Affairs General Manager (510) 544-2003 (510) 544-2001
  28. 28. Mary Creasman California Director of Government Affairs The Trust for Public Land @MaryECreasman The Value of Land & How to Translate Research into Change
  29. 29. The Trust for Public Land: Creating a Healthy, Climate-Smart California with Access to Nature for All
  30. 30. - Health Care Cost Savings - Stormwater Management/Pollution Control - Tourism - Recreational Amenities - Community Cohesion - Property Value - Creative Economy
  31. 31. The Economic Benefits of the Park & Recreation System in San José, California 2016 & The Economic Benefits of San Francisco’s Park and Recreation System 2015
  32. 32. San Francisco
  33. 33. The Value of Parks and Conservation to the Creative Economy
  34. 34. Property Values & Displacement
  35. 35. How does this change how we talk about our work?
  36. 36. How do we turn data into action?
  37. 37. Questions?