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Daniel Alderman Vineet Barot Derek Pepicelli Gordon Wong

Valuing Ecological Services of Peri -Urban Open Spaces A Case Study of the West Tatnuck Neighborhood of Worcester, Massachusetts. Daniel Alderman Vineet Barot Derek Pepicelli Gordon Wong. December 12, 2007. Overview. Goal Statement Background Methodology Findings Discussion.

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Daniel Alderman Vineet Barot Derek Pepicelli Gordon Wong

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  1. Valuing Ecological Services ofPeri-Urban Open SpacesA Case Study of the West TatnuckNeighborhood of Worcester, Massachusetts Daniel Alderman VineetBarot Derek Pepicelli Gordon Wong December 12, 2007

  2. Overview Goal Statement Background Methodology Findings Discussion

  3. Goal Statement To compare the typical and ecological economic value of open spaces. Serves as a model for examining the value ecological services.

  4. Background: Schools of Thought Traditional Economic Viewpoint Current value: Focuses on Services that the Individual Can be Charged For. e.g. Food, timber, recreation and aesthetic value Potential Value: $/unit X maximum number of buildable lots + Raw Materials http://www.clarku.edu/tbwa/images/current%20photos/Slide3.JPG

  5. Background: Schools of Thought Ecological Economic Viewpoint Values all the services including those that benefit communities as a whole. e.g. Air filtration, erosion control, and overland flow mitigation Claims that the conventional valuation approach undervalues nature http://www.clarku.edu/tbwa/images/current%20photos/Slide3.JPG http://www.oscette.com/Creekpipe1.JPG http://grandbaynerr.org/images/Erosion_site03.Grand_Battures.20041201.detail_of_land_slumping.2.jpg

  6. Methodology: Types of Valuation

  7. Study Area

  8. Maximum Economic Value Build-out Analysis Lots 339 RS-7 units Calculated Preserved Open Space Lots 1,026 RS-7 Units Current Residential Tax Rate: 1.21% Mean House Value: $183,000 $90,694,830 Revenue per 30yrs

  9. Build Out Analysis Map

  10. Maximum Economic Value 573 New School-Age Children Cost of K-12 Schooling: $41,062,057 Additional School Cost: $17,850,000 Net Tax Revenue: $31,782,773 per 30yrs (without gray infrastructure cost)

  11. West Tatnuck Services

  12. Economic Valuation

  13. Economic Valuation Total: $2,171,119 over 30 years

  14. Ecological Economic Valuation

  15. Ecological Economic Valuation

  16. Noise Reduction: Area Impacted by Worcester Regional Airport

  17. Ecological Economic Valuation Total: $37,056,560 over 30 years

  18. Discussion $2,171,119 • Ecological Economic > Typically Valued Economic Services • A large part of the open space value is lost in the typical valuation methods

  19. Discussion $31,782,773 $2,171,119

  20. Discussion

  21. Future Research Analyze Other Areas by Applying Similar Methods Consider Policy Implications for Land Use Planning

  22. Acknowledgements Ruth Gentile Worcester Planning and Regulatory Services Sean Dwyer Worcester Parks & Recreation Coordinator Roger Plourde Broad Arrow Forestry Robert McNeil McNeil Engineering Sponsor Colin Novick Greater Worcester Land Trust Project Advisor Prof. Robert Krueger Prof. Dominic Golding Prof. Jennifer Rudolph

  23. QUESTIONS?

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