Slides from session given at National Trust for Historic Preservation Annual Conference on calculating economic impact of preservation policies, October 10, 2011
This document outlines the objectives and activities of a math project for grades 2-4 at The Cathedral and John Connon School in Mumbai, India. The project aims to change perspectives of math and establish foundations in arithmetic, algebra, and geometry through hands-on activities. It also seeks to understand how math helps make the world purposeful, contributes to aesthetics, helped evolve measurement, and promotes logical thinking. A range of hands-on activities are described to teach concepts like patterns, measurement, place value systems, and more. The project also involves students from older grades in demonstrations and activities. The project was well-received by parents and educators, with one newspaper writing a positive article about it.
The document is a 3,972 word mathematical studies project that examines the time spent after school by students who live near the school in Nichada and farther away outside of Nichada. It includes an introduction outlining the method, which involved surveying 60 students about their weekly after school hours and travel time home. Tables display the raw data collected from the students sorted by their location and time spent/travel time. The interpretation of results section analyzes the mean, median, mode and standard deviations of the data and finds that on average students in Nichada spend 7.15 hours after school with a travel time of 2.62 minutes, while those outside spend 8.48 hours with a travel time of 45.
Business economics basics of math derivativesRachit Walia
The document discusses key concepts in calculus including derivatives, notations used to represent derivatives, derivatives of powers and constants, and how to identify maxima and minima. It provides examples of taking derivatives of functions and the steps to solve optimization problems using derivatives, including finding the critical point where the first derivative is equal to 0 and using the second derivative to determine if it is a maximum or minimum. It concludes with an example problem to maximize monthly revenue for a firm by determining the optimal price point.
1) The document analyzes the relationship between shoe size and height using data collected from 15 males and 15 females aged 17-18.
2) Correlation coefficients were calculated, showing a moderate positive correlation between height and shoe size.
3) Chi-squared tests found the relationship to be independent for males and females individually, but dependent when combining both genders.
International baccalaureate math sl investigation_the correlation between lu...Felix Dyrek
Felix Dyrek investigated the correlation between lung cancer incidents and tobacco consumption in 6 countries. His hypothesis assumed higher lung cancer rates in countries with greater tobacco use. He collected data on lung cancer incidents, adult smoking rates, and average cigarettes smoked per person. Calculations of Pearson's correlation coefficient and X2 test showed no direct correlation between cigarettes smoked and lung cancer. While smoking increases lung cancer risk, other factors like air pollution also contribute, so lung cancer is not purely determined by tobacco consumption alone. Including more external influences could improve the investigation.
The document analyzes the relationship between SAT scores and family income of test takers around the world. It collects data on SAT scores and family incomes from College Board in 2007 for two-thirds of test takers who voluntarily reported it. The data is categorized into ten income groups and shows mean SAT scores increase as family income increases. Graphs and calculations of least squares regression and Pearson's correlation coefficient indicate a strong positive correlation between higher SAT scores and higher family incomes.
This document discusses the correlation of mathematics with various domains:
1) Mathematics is correlated with life activities through concepts like percentages, interest rates, and ratios that are useful in everyday life.
2) Different branches of mathematics like arithmetic, algebra, geometry are interrelated through concepts like functions and mathematical structures.
3) Topics within the same branch of mathematics are also correlated, for example concepts in algebra relate to equations, and areas of shapes relate in geometry.
4) Mathematics is also correlated with other subjects like physical sciences through expression of laws as mathematical equations, with biology through use of higher math methods, and with engineering as mathematics forms the basis of engineering courses.
Correlation of subjects in school (b.ed notes)Namrata Saxena
This document discusses the concept of correlation in education. It defines correlation as the mutual relationship between different subjects or variables in a curriculum. The document outlines the importance of correlation, including that it helps students perceive knowledge as a whole, strengthens retention of knowledge, and promotes well-rounded development. It discusses different types of correlation, including vertical/internal correlation between topics within a subject and horizontal/external correlation between different subjects. Examples are provided of how mathematics can be correlated with other subjects like science, geography, and economics.
This document outlines the objectives and activities of a math project for grades 2-4 at The Cathedral and John Connon School in Mumbai, India. The project aims to change perspectives of math and establish foundations in arithmetic, algebra, and geometry through hands-on activities. It also seeks to understand how math helps make the world purposeful, contributes to aesthetics, helped evolve measurement, and promotes logical thinking. A range of hands-on activities are described to teach concepts like patterns, measurement, place value systems, and more. The project also involves students from older grades in demonstrations and activities. The project was well-received by parents and educators, with one newspaper writing a positive article about it.
The document is a 3,972 word mathematical studies project that examines the time spent after school by students who live near the school in Nichada and farther away outside of Nichada. It includes an introduction outlining the method, which involved surveying 60 students about their weekly after school hours and travel time home. Tables display the raw data collected from the students sorted by their location and time spent/travel time. The interpretation of results section analyzes the mean, median, mode and standard deviations of the data and finds that on average students in Nichada spend 7.15 hours after school with a travel time of 2.62 minutes, while those outside spend 8.48 hours with a travel time of 45.
Business economics basics of math derivativesRachit Walia
The document discusses key concepts in calculus including derivatives, notations used to represent derivatives, derivatives of powers and constants, and how to identify maxima and minima. It provides examples of taking derivatives of functions and the steps to solve optimization problems using derivatives, including finding the critical point where the first derivative is equal to 0 and using the second derivative to determine if it is a maximum or minimum. It concludes with an example problem to maximize monthly revenue for a firm by determining the optimal price point.
1) The document analyzes the relationship between shoe size and height using data collected from 15 males and 15 females aged 17-18.
2) Correlation coefficients were calculated, showing a moderate positive correlation between height and shoe size.
3) Chi-squared tests found the relationship to be independent for males and females individually, but dependent when combining both genders.
International baccalaureate math sl investigation_the correlation between lu...Felix Dyrek
Felix Dyrek investigated the correlation between lung cancer incidents and tobacco consumption in 6 countries. His hypothesis assumed higher lung cancer rates in countries with greater tobacco use. He collected data on lung cancer incidents, adult smoking rates, and average cigarettes smoked per person. Calculations of Pearson's correlation coefficient and X2 test showed no direct correlation between cigarettes smoked and lung cancer. While smoking increases lung cancer risk, other factors like air pollution also contribute, so lung cancer is not purely determined by tobacco consumption alone. Including more external influences could improve the investigation.
The document analyzes the relationship between SAT scores and family income of test takers around the world. It collects data on SAT scores and family incomes from College Board in 2007 for two-thirds of test takers who voluntarily reported it. The data is categorized into ten income groups and shows mean SAT scores increase as family income increases. Graphs and calculations of least squares regression and Pearson's correlation coefficient indicate a strong positive correlation between higher SAT scores and higher family incomes.
This document discusses the correlation of mathematics with various domains:
1) Mathematics is correlated with life activities through concepts like percentages, interest rates, and ratios that are useful in everyday life.
2) Different branches of mathematics like arithmetic, algebra, geometry are interrelated through concepts like functions and mathematical structures.
3) Topics within the same branch of mathematics are also correlated, for example concepts in algebra relate to equations, and areas of shapes relate in geometry.
4) Mathematics is also correlated with other subjects like physical sciences through expression of laws as mathematical equations, with biology through use of higher math methods, and with engineering as mathematics forms the basis of engineering courses.
Correlation of subjects in school (b.ed notes)Namrata Saxena
This document discusses the concept of correlation in education. It defines correlation as the mutual relationship between different subjects or variables in a curriculum. The document outlines the importance of correlation, including that it helps students perceive knowledge as a whole, strengthens retention of knowledge, and promotes well-rounded development. It discusses different types of correlation, including vertical/internal correlation between topics within a subject and horizontal/external correlation between different subjects. Examples are provided of how mathematics can be correlated with other subjects like science, geography, and economics.
This document advertises an upcoming real estate investing seminar. It promotes the featured speakers Joe Corno and Cami Davis and their experience in real estate investing. The seminar will provide training on formulas and strategies for finding, acquiring, rehabilitating, and profiting from real estate deals. Attendees of the seminar will receive 3 months of email/phone support. The seminar takes place on November 12, 2011 in Atascocita, Texas from 10:45am to 4:45pm.
This document provides an overview of potential real estate solutions and trade secrets. It discusses setting up a legacy real estate deal through a non-profit organization to purchase land for conservation and development. Limited partnerships and real estate investment trusts are proposed to involve investors. Recreation vehicles are suggested to use as down payments to reverse losses in that down market and acquire real estate. The solutions aim to creatively deal with down real estate and RV markets through property trades and conversions.
Presentation by Michael N'dolo to the University of New Hampshire Economic Development Academy. Covers difference between direct, indirect, and induced effects
All the information you need to help you buy or sell a rent roll from due diligence to methods of appraising, contract clauses to the all important post transition.
Webinar: Managing your property manager to maximise financial resultsReal Estate Investar
Whether you are new to property investment, have an existing property portfolio or are a full time property investor, this webinar will help you maximise the financial performance of your portfolio and improve profits.
This interactive masterclass covers:
> 9 tips that will ensure you have tenants queuing up to rent your vacant property.
> How to find an A-grade property manager in an industry of full of average people.
> How to get 5-10 property managers competing for your business on every rental property.
> How to easily compare the costs and services of each property manager.
> 11 things you can do to boost your rental income by $1,000 to $10,000 per year.
> How to select and retain the best possible tenants and achieve 0% vacancy rates.
> How to figure out the best tenancy rental strategy for each property.
> The pros and cons of residential tenancy types: long term residential, boarding houses, short stay and holiday homes.
HomeSlice aims to make real estate more accessible through fractional ownership. It provides an end-to-end home buying solution that removes barriers like finding reliable co-owners, structuring agreements, and liability in case of default. After validating customer interest and barriers, HomeSlice focused on facilitating co-owner agreements and mitigating default risk. By acting as a guarantor and working with institutional investors, HomeSlice allows single mortgages while keeping the process simple for lenders and borrowers.
Investing in Residential & Multi-Family Real Estate (Series: Real Estate Inve...Financial Poise
Apartment buildings and other residential and multi-family housing can provide a stable income to an investor. This Financial Poise webinar discusses some of the pros and cons of being a landlord. It provides a basic overview about how to find and assess opportunities, obtain financing, negotiate a deal, and manage a multi-family investment. The accounting, tax, and legal aspects of being a landlord are part of the discussion.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/investing-in-residential-multi-family-real-estate-2020/
This document summarizes a guest lecture on valuation methodology in appraisal practice given at USC Marshall School of Business. It discusses the three main approaches used in appraisals: 1) cost approach, which values property based on construction costs, 2) sales comparison approach, which compares the subject property to similar properties that have recently sold, and 3) income approach, specifically discounted cash flow analysis, which values a property based on its income-generating potential. It also covers who typically hires appraisers and for what purposes, such as lenders for loan underwriting or companies for purchase accounting. Real property interests like fee simple ownership, leased fees, and leaseholds are also defined and the appropriate valuation methods discussed.
This document provides an overview of cost segregation, which is a tax strategy for commercial property owners to shorten depreciation periods for certain building components. It discusses the history and legal basis of cost segregation, how it results in increased tax savings and cash flow compared to traditional depreciation over 39 years. The document also outlines the cost segregation process, common asset classes and lives, benefits like catch-up depreciation, and answers frequently asked questions.
Neighborhood Match is a service that helps people relocating to a new city find the perfect neighborhood based on their needs. It leverages data and partnerships with real estate companies to provide personalized recommendations. The founders have experience from major tech companies and see an opportunity in the $9.2 billion realtor advertising market. They are currently refining their prototype and business model based on customer feedback.
Real Estate Matters Co. Introduction For Pdf Q2 2012TonyDoar
Jennifer Smith
Cell: 617-123-4567
Jsmith@comcast.net
Real Estate Matters
123 Main St.
Boston, MA 02108
RealEstateMatters.com
LinkedIn: Real Estate Matters
Twitter: @RealEstateMatter
Facebook: RealEstateMatters
Real Estate Matters provides facility and corporate real estate consulting services to help
organizations reduce costs, increase productivity and align real estate to core business objectives.
This document proposes a service to help banks manage foreclosed properties by evaluating, repairing, and selling them in a cost-effective manner. The service would assess banks' foreclosure portfolios, renovate properties to prepare them for sale, locate first-time buyers, and set up loan programs to reduce default risk - helping banks reduce foreclosure inventory while returning properties to homeowners. The goal is to relieve pressure on banks, contractors, and communities from vacant foreclosed homes in a sustainable way that restores the perception of homes as places to live, not just investments.
This document proposes a service to help banks manage foreclosed properties by evaluating, repairing, and selling them in a cost-effective manner. The service would assess bank portfolios, determine which properties to sell or renovate, complete repairs to prepare homes for sale, locate first-time buyers, and set up loan programs to reduce default risk. The goal is to reduce the foreclosure inventory while providing jobs and returning properties to homeowners at an affordable price.
Stanford CS 007-09 (2018): Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered on November 27, 2018. This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
This document provides tips for marketing and operating a self-storage business. It recommends optimizing internet listings and reducing yellow pages budgets. Referral programs from current tenants and local businesses are also suggested. Managing expenses like taxes, insurance, payroll and utilities can boost profits. Raising rental rates twice per year helps keep pace with increasing costs while retaining customers. Conducting a feasibility study is important for determining a location's potential before pursuing financing.
Stanford CS 007-09 (2019): Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered in November 2019. This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
Stanford CS 007-09 (2020): Personal Finance for Engineers / Real EstateAdam Nash
This document provides an overview of personal finance topics related to real estate, including buying a primary residence, renting, investing in rental properties, and the tax advantages of real estate. Some key points covered include:
- Real estate is typically the largest financial commitment and investment for most households. It has costs associated with buying, selling, owning, and maintaining a property.
- The decision to buy vs. rent involves weighing financial, practical, and emotional factors. Renting provides flexibility while buying is often seen as a forced savings plan and long-term investment.
- Investing in rental properties allows earning income from rents but also requires actively managing the properties. Real estate has generally earned returns comparable to stocks over
Commercial Real Estate - Leasing
How to right-size your commercial lease to fit your business plan. Negotiation techniques to protect the tenant's rights. Presented by International Properties Group principal George F. Donohue.
Stanford CS 007-09: Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
Strategic planning annotated oeda mar 2014Della Rucker
This document provides an annotated summary of a presentation on strategic planning. It begins with an introduction of the presenter's background and emphasizes that the economic development certification exam is based entirely on the content of the IEDC book and requires knowing the concepts, not just examples seen in presentations. The summary then walks through the key points made in the presentation, which highlights sections from the IEDC book on defining goals, priorities, and realistic plans. It stresses the importance of strategic plans for focusing limited resources and setting priorities to balance competing interests. The presentation cautions that those creating strategic plans must avoid becoming dictators by building plans collaboratively and recognizing plans will never be perfect.
This document advertises an upcoming real estate investing seminar. It promotes the featured speakers Joe Corno and Cami Davis and their experience in real estate investing. The seminar will provide training on formulas and strategies for finding, acquiring, rehabilitating, and profiting from real estate deals. Attendees of the seminar will receive 3 months of email/phone support. The seminar takes place on November 12, 2011 in Atascocita, Texas from 10:45am to 4:45pm.
This document provides an overview of potential real estate solutions and trade secrets. It discusses setting up a legacy real estate deal through a non-profit organization to purchase land for conservation and development. Limited partnerships and real estate investment trusts are proposed to involve investors. Recreation vehicles are suggested to use as down payments to reverse losses in that down market and acquire real estate. The solutions aim to creatively deal with down real estate and RV markets through property trades and conversions.
Presentation by Michael N'dolo to the University of New Hampshire Economic Development Academy. Covers difference between direct, indirect, and induced effects
All the information you need to help you buy or sell a rent roll from due diligence to methods of appraising, contract clauses to the all important post transition.
Webinar: Managing your property manager to maximise financial resultsReal Estate Investar
Whether you are new to property investment, have an existing property portfolio or are a full time property investor, this webinar will help you maximise the financial performance of your portfolio and improve profits.
This interactive masterclass covers:
> 9 tips that will ensure you have tenants queuing up to rent your vacant property.
> How to find an A-grade property manager in an industry of full of average people.
> How to get 5-10 property managers competing for your business on every rental property.
> How to easily compare the costs and services of each property manager.
> 11 things you can do to boost your rental income by $1,000 to $10,000 per year.
> How to select and retain the best possible tenants and achieve 0% vacancy rates.
> How to figure out the best tenancy rental strategy for each property.
> The pros and cons of residential tenancy types: long term residential, boarding houses, short stay and holiday homes.
HomeSlice aims to make real estate more accessible through fractional ownership. It provides an end-to-end home buying solution that removes barriers like finding reliable co-owners, structuring agreements, and liability in case of default. After validating customer interest and barriers, HomeSlice focused on facilitating co-owner agreements and mitigating default risk. By acting as a guarantor and working with institutional investors, HomeSlice allows single mortgages while keeping the process simple for lenders and borrowers.
Investing in Residential & Multi-Family Real Estate (Series: Real Estate Inve...Financial Poise
Apartment buildings and other residential and multi-family housing can provide a stable income to an investor. This Financial Poise webinar discusses some of the pros and cons of being a landlord. It provides a basic overview about how to find and assess opportunities, obtain financing, negotiate a deal, and manage a multi-family investment. The accounting, tax, and legal aspects of being a landlord are part of the discussion.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/investing-in-residential-multi-family-real-estate-2020/
This document summarizes a guest lecture on valuation methodology in appraisal practice given at USC Marshall School of Business. It discusses the three main approaches used in appraisals: 1) cost approach, which values property based on construction costs, 2) sales comparison approach, which compares the subject property to similar properties that have recently sold, and 3) income approach, specifically discounted cash flow analysis, which values a property based on its income-generating potential. It also covers who typically hires appraisers and for what purposes, such as lenders for loan underwriting or companies for purchase accounting. Real property interests like fee simple ownership, leased fees, and leaseholds are also defined and the appropriate valuation methods discussed.
This document provides an overview of cost segregation, which is a tax strategy for commercial property owners to shorten depreciation periods for certain building components. It discusses the history and legal basis of cost segregation, how it results in increased tax savings and cash flow compared to traditional depreciation over 39 years. The document also outlines the cost segregation process, common asset classes and lives, benefits like catch-up depreciation, and answers frequently asked questions.
Neighborhood Match is a service that helps people relocating to a new city find the perfect neighborhood based on their needs. It leverages data and partnerships with real estate companies to provide personalized recommendations. The founders have experience from major tech companies and see an opportunity in the $9.2 billion realtor advertising market. They are currently refining their prototype and business model based on customer feedback.
Real Estate Matters Co. Introduction For Pdf Q2 2012TonyDoar
Jennifer Smith
Cell: 617-123-4567
Jsmith@comcast.net
Real Estate Matters
123 Main St.
Boston, MA 02108
RealEstateMatters.com
LinkedIn: Real Estate Matters
Twitter: @RealEstateMatter
Facebook: RealEstateMatters
Real Estate Matters provides facility and corporate real estate consulting services to help
organizations reduce costs, increase productivity and align real estate to core business objectives.
This document proposes a service to help banks manage foreclosed properties by evaluating, repairing, and selling them in a cost-effective manner. The service would assess banks' foreclosure portfolios, renovate properties to prepare them for sale, locate first-time buyers, and set up loan programs to reduce default risk - helping banks reduce foreclosure inventory while returning properties to homeowners. The goal is to relieve pressure on banks, contractors, and communities from vacant foreclosed homes in a sustainable way that restores the perception of homes as places to live, not just investments.
This document proposes a service to help banks manage foreclosed properties by evaluating, repairing, and selling them in a cost-effective manner. The service would assess bank portfolios, determine which properties to sell or renovate, complete repairs to prepare homes for sale, locate first-time buyers, and set up loan programs to reduce default risk. The goal is to reduce the foreclosure inventory while providing jobs and returning properties to homeowners at an affordable price.
Stanford CS 007-09 (2018): Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered on November 27, 2018. This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
This document provides tips for marketing and operating a self-storage business. It recommends optimizing internet listings and reducing yellow pages budgets. Referral programs from current tenants and local businesses are also suggested. Managing expenses like taxes, insurance, payroll and utilities can boost profits. Raising rental rates twice per year helps keep pace with increasing costs while retaining customers. Conducting a feasibility study is important for determining a location's potential before pursuing financing.
Stanford CS 007-09 (2019): Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered in November 2019. This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
Stanford CS 007-09 (2020): Personal Finance for Engineers / Real EstateAdam Nash
This document provides an overview of personal finance topics related to real estate, including buying a primary residence, renting, investing in rental properties, and the tax advantages of real estate. Some key points covered include:
- Real estate is typically the largest financial commitment and investment for most households. It has costs associated with buying, selling, owning, and maintaining a property.
- The decision to buy vs. rent involves weighing financial, practical, and emotional factors. Renting provides flexibility while buying is often seen as a forced savings plan and long-term investment.
- Investing in rental properties allows earning income from rents but also requires actively managing the properties. Real estate has generally earned returns comparable to stocks over
Commercial Real Estate - Leasing
How to right-size your commercial lease to fit your business plan. Negotiation techniques to protect the tenant's rights. Presented by International Properties Group principal George F. Donohue.
Stanford CS 007-09: Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
Strategic planning annotated oeda mar 2014Della Rucker
This document provides an annotated summary of a presentation on strategic planning. It begins with an introduction of the presenter's background and emphasizes that the economic development certification exam is based entirely on the content of the IEDC book and requires knowing the concepts, not just examples seen in presentations. The summary then walks through the key points made in the presentation, which highlights sections from the IEDC book on defining goals, priorities, and realistic plans. It stresses the importance of strategic plans for focusing limited resources and setting priorities to balance competing interests. The presentation cautions that those creating strategic plans must avoid becoming dictators by building plans collaboratively and recognizing plans will never be perfect.
Evaluating your ed efforts bc webinar [compatibility mode]Della Rucker
The document discusses evaluating the effectiveness of local economic development efforts. It suggests communities ask what goals they are trying to achieve and how well the local economy and development efforts are performing toward those goals. It provides examples of indices to measure various aspects of economic health, and a framework to evaluate development efforts on a scale from "strategic perspective" to "hostile waters". The key is for communities to objectively analyze their situation and identify areas needing improvement.
Slides from session given by Peter Mallow and Della Rucker on methods for evaluating economic impacts of policy choices at Ohio American Planning Association Conference, October 2011.
National Trends And Best Practices In Local Economic Draft 4.1Della Rucker
The document discusses a workshop on local economic development best practices presented by three experts: Della Rucker, Jim Kinnett, and Mark Barbash. It addresses what economic development is, trends in the field, how communities can improve, and strategies for collaboration, workforce development, and civic engagement. Key topics included changing state economic development roles, the importance of retaining and expanding existing businesses, and developing strong community leadership and partnerships.
An Invitation To Build A Wise Economy Rucker DoiDella Rucker
The document discusses building a "Wise Economy" and focuses on developing flexibility, focus, and wisdom. It emphasizes thinking ahead about unexpected consequences, working together as a community like an ecosystem, focusing on local strengths, and making decisions based on real facts through honest discussions. The goal is to crowdsource wisdom and avoid quick fixes, instead focusing on long-term sustainable growth.
Outlines common problems with how communities do public participation and how to draw from innovative teaching methods to get more meaningful and constructive involvement.
Presentation on common failures of comprehensive planning and ways to avoid them. Given to Ohio Kentucky Indiana regional conference with Paul Culter and Peter Klear (Campbell County Kentucky Planning Commission).
Fiscal impact analysis measures the cash flows to and from the public sector by comparing alternative development scenarios and analyzing the ramifications of development proposals. It determines if revenues generated by new growth cover increased service and facility demands. While it does not directly calculate economic impacts, fiscal impact analysis provides facts about long-term fiscal health to help communities make sustainable land use decisions. Models can estimate revenues like property, income, and sales taxes as well as costs to public services from new development. Challenges include availability and compatibility of local data across jurisdictions and ensuring usability for non-expert users.
The document outlines 10 tools for sustainable economic development: 1) Know your community's needs and assets, 2) Focus on your assets, 3) Make a plan to target key sectors, 4) Retain and support healthy small businesses, 5) Recruit and help small businesses grow, 6) Prune obsolete retail, 7) Develop a brand and use it consistently, 8) Leverage hidden community resources, 9) Stay focused on the long-term plan, and 10) Commit to the long-term work of economic development. The presentation provides guidance on implementing each tool and emphasizes the importance of persistence to achieve sustainable economic growth.
1. Economic Arguments for
Preservation: Do the Math to Make
the Case
Della G. Rucker, AICP, CEcD
Wise Economy Workshop
For National Preservation Conference
October 21, 2011
2. Our Plan:
• What’s the problem?
• Who benefits?
• Introduce a key idea
• Figure out what we are
measuring
• (Prove that you can) Do the
math
3. The Problem:
Property owners sometimes want to
tear down or mess up buildings for
reasons preservation people can’t
fathom:
o “But it’s such a beautiful
building!”
o “Why on earth would they want a
parking lot rather than that
building?”
o “Don’t they understand what that
will do to the neighborhood?”
4. More of the Problem
• Three different definitions of
value:
o Property owner
o Business owner
o Local
government/community
• Three different time frames
• Responsible to three
different groups
5. A quick sketch
Definer Type of Time frame Responsible
value to
Property owner Cash flow from Short Self/other owners
rent of building
Business owner Business revenue Longer Self/partners/
investors
Community Quality of life Longest Self, other
residents, other
parts of
community
6. More of the Problem:
• The property owner will do
what’s in his or her best interest.
• Their best interest may not be
the same as the best interest of
o Businesses in that building,
o Other business owners or property
owners nearby
o Area residents
o The local government
7. The Real Problem
When property owners make choices that impact
the economic health of others, they have created
an externality.
8. Concept #1: Externalities
• “An external effect, often
unforeseen or unintended,
accompanying a process or
activity.” (dictionary.com)
• When I make choices in my
economic self-interest, and those
choices impact someone else,
those impacts are the externalities
of my choices.
9. Common externalities
• I let my kids scream wildly in
the back yard, and my
neighbor’s sick daughter
couldn’t sleep.
• I dumped chemicals in the
back of my lot, and now the
EPA has to clean it up.
• I don’t maintain my building,
and the value of buildings
around me goes down.
11. A solution:
The more we can convince elected officials of
the impact that preservation decisions will
have on their community’s financial health -
the more they see that poor preservation
choices create negative externalities – the
more likely we are to persuade them that it is
good public policy to support historic
preservation.
12. What economic issues do
governments deal with?
• Private sector:
o Growth
o Profitabillity
o Stability
o Vacancy
• Public sector (fiscal):
o Tax revenues
o Costs of services
13. What kinds of externalities can botching up a
building make for other property owners?
• Make area less appealing
for customers-
• Decrease rental/property
value of spaces
• Decrease amount of
affordable space for new
businesses.
14. What kinds of externalities does
this create for local governments?
• Loss of property tax revenue
• Loss of space for creating
new employment
• Loss of sales tax revenues.
• Increased public safety
costs
• Loss of support for
infrastructure repairs
17. A hypothetical
Value
Building A $100,000
Building B $300,000
Building C $80,000
Building D $150,000 Avg Letter Dist: $166,000
Building E $200,000
Building 1 $100,000 Avg. Number Dist $159,000
Building 2 $250,000
Building 3 $175,000
Building 4 $150,000
Building 5 $120,000
18. Keys to success:
• Use the largest samples
you can.
• Double check your
math.
• If using Auditor data,
know when the last
assessment was and, if
they typically
undervalue, by how
much.
19. If it’s not working
• Look at more areas
• Partner with a similar
community to get more
sample areas
• Look for unusual factors in
the area you’ve chosen.
Are some closer to the
highway than others?
Further from the center of
town? Larger or smaller
buildings?
20. Estimating the impact on the
ability to grow new businesses
• Especially important when
demolition of a commercial
or potentially commercial
building is proposed.
• Premise: small businesses
are extra important to a
community because they
create most of the new
jobs.
o But they have different space
needs than established
businesses.
o Older buildings often fit this best.
21. Econ concept #2: Opportunity Cost
• The money or other
benefits lost when
pursuing a particular
course of action
instead of a mutually-
exclusive alternative.
(www.dictionary.com)
22. Types of opportunity costs
• I decide to quit my job and go
back to grad school so that I
can move into a better position
in the future.
• I buy the last piece of vacant
land in town and build houses
on it instead of a factory.
• We tore down the smaller,
inexpensive spaces in town,
and now small businesses have
no where to get started.
25. Estimating lost revenues - property
taxes
• The parts:
o Assessed value (link)
o Property tax rate (millage)
o Adjustments, deductions,
rollback, caps, etc
• The formula:
o Assessed Value X Millage –
Adjustments = Property tax
obligation
26. Estimating opportunity costs from lost
income/earnings tax
• The parts:
o Estimated number of employees
• Actual (might be low) or
• Potential based on national/regional
average per square feet
o Income/earnings tax rate
o Estimated percent of employees paying
income taxes to locality (may be receiving
reciprocity or abatement)
• The formula:
o (Employees X income tax rate) = income
tax obligation
27. Estimating opportunity costs from lost
sales tax
• The parts:
o Estimated sales
• Actual (might be low) or
• Based on typical local experience, or
• based on national/regional average
per square feet
o Sales Tax rate
• May differ from one county or city to
next
• May have different parts (part to
state, part to county)
• The formula:
o Estimated sales X sales tax rate =
sales tax obligation
28. Other types of taxes:
• Business Establishment-type taxes
• Tax on profits
• Tax on personal property or inventory
• Tax on holdings
• Capital gains
• Etc., etc., etc…..
29. So…you’ve done the math, now
what?
• Share your findings
• Show your work
• Remember that it’s an estimate,
not a precise measure
• Use it as one of the tools in your
toolbox – it’s not the only one.