Mississippi River Forum, Friday - June 18th
Tuesday, June 8th, 2010Friday, June 18, 7:30-9:00 a.m.
“The Value of Open Space”Jenna Fletcher, Embrace Open Space
St. Cloud City Council Chambers
400-2nd Street South.
Light breakfast provided. RSVP by emailing or calling Lark Weller(lark_weller@nps.gov or 651-290-3030 x304).
In 2009, Embrace Open Space commissioned an economic study of home values in Hennepin County to quantify the financial impact of proximity to open spaces on the value of nearby single-family homes. As communities begin to plan now for new residents that are projected to be in the area by 2030, such results can help communities better understand how decisions to conserve open space might affect property tax revenues. The study found that the overall impact of open space on property values was an increase equivalent to $3.5 billion, resulting in a $36 million/year increase in property taxes (2006 values). The study also concluded that, if the amount of open space is doubled in a community, all residential properties would increase in value by 1.3%. If the percent of open space in the community again doubles, the properties will increase an additional 1.3%.
The study’s findings are important to think about as communities grow. When a community begins with 1% of its land use in open space, then increases it to 2%, the impact on property values is just as powerful as going from 10% to 20% open space in a community. This means that it is particularly powerful to add open space in communities that currently have very little open space.
Jenna Fletcher is Program Manager for Embrace Open Space, a program housed at The Trust for Public Land, a national non-profit. Embrace Open Space is a collaborative of organizations with a shared goal of fostering conservation and stewardship of natural areas and parks in the eleven county Twin Cities area. Jenna has also worked for the State of Minnesota as a policy analyst on forestry issues, and researched urban smart growth practices for ICF Consulting, a national environmental public policy consulting firm. Jenna was a Fellow in the Donella Meadows Leadership Fellows Program at Sustainability Institute, where she received training in systems thinking, reflective conversation and visioning. Jenna has a Masters in Conservation Biology from the University of Minnesota.
The Mississippi River Forum is made possible by the generous support of the Mississippi River Fund and the McKnight Foundation.