Opportunity Cost Analysis
Parks as Economic Development:
A Case Study of The Parklands of Floyds Fork in Louisville
Assumptions
Goal: Determine the opportunity cost of removing this land from development
Reported
Outcomes &
% Developable: 70%
Median Home Sale Price: $149,000
Building Density: 0.6 du/acre
Property Tax Rate: 12.2 cents/$100AV
Results: Benchmark for Achieved Benefits:
$305,390.40
Excellent Parks add 15% AV to dwellings within 500ft (Trust for Public Land)
Projects Components
Conclusions
Key Take-Aways from the Interviews (so far)
- Opportunity Cost Analysis
- Shift-share Analysis
- Gathering Reported Outcomes
- Key Take-aways from Interviews
- Unique private, community-driven effort for increasing a city's parklands
- Positive Externalities: feasible that the park would generate positive image for city
- Positive Economic Impacts
- attraction and retaining companies (first wave)
- incorporating sustainability in growth; emphasizing amenities (fourth wave)
- Health Impacts (from literature)
- Projected increase of property values
- Arguments for the Creative Class? - Anecdotal Evidence from the only guy we talked to at the Parklands
Curse you, incomplete data!
Shift Sharin'
- Data Collection
- Analytical Hurdles
- Main Industries
- Connection to The Parklands
Louisville: A Long History of Parks
Impacts of the Park
The Parklands of Floyds Fork
- Increase in Parkland per Resident
- Urban Edge & Suburban Sprawl?
- Environmental Services?
- Health Impacts?
Why Louisville?
Why care about The Parklands of Floyds Fork?
- Rationale for choosing
- Logic of Placement
- Organizational Structure
- Social Entrepreneurship?
- Stakeholders
- History and Capital Campaign
Overview of Louisville's Demographics
- Blue dots: African American
- Red dots: Caucasian
- Each dot = 25 people
Racial Density Dot Map
Rough approximation of The Parklands Project
Presentation Overview
Interviews
- Introducing Louisville
- The Parklands Project
- Impact of the Project on the City
- Critical Analysis
- Conclusions
- Jerry Miller, Metro Councilman
- Peter Harnik, Trust Public Lands
- Scott Martin, Director of the Parklands of Floyds Fork
- Jason Nally, Jefferson County Wildlife Biologist for Fish and Wildlife Department
- Catherine Nagel, City Park Alliance
This is Gonna be GREAT!