Saturday, April 25, 2009

Economic Value of Parks

A valuable new report from the Trust for Public Lands showing the economic value of city parks, and Sacramento’s parks are one of the five areas profiled.

Here is an excerpt from the announcement and the link to the report is there.

“In 2003, The Trust for Public Land's Center for City Park Excellence gathered two dozen park experts and economists in Philadelphia for a colloquium to analyze how park systems economically benefit cities. Based on this conversation and subsequent consultation with other leading economists and academics, the center identified seven attributes of city park systems that provide economic value and can be measured. While not every aspect of a park system can be quantified, this report examines seven major factors:

• Property value
• Tourism
• Direct use
• Health
• Community cohesion
• Clean water
• Clean air

“While the science of city park economics is still in its infancy, TPL has worked to carefully consider and analyze these values. After describing the value factor and the rationale for calculating it, this report provides real-life example of the mathematical outcomes, based on the first five test cases undertaken in this program—the cities of Washington, D.C., San Diego, Boston, Sacramento, and Philadelphia. 30 pages.”