Value in T r ails T a rra nt Re g io na l Wa te r Distric t E - - PowerPoint PPT Presentation

T a rra nt Re g io na l Wa te r Distric t

Value in T r ails

Dire c t Re ve nue (pe rmits, inc re me nta l re ve nue a sso c ia te d with re c re a tio na l pro duc ts & e ve nts) I nc re a se d Pro pe rty Va lue s in pro ximity to tra ils

E c onomic impa c t of tra ils

2016 T rinity T rails I mpac t Study

• 85 e ve nts
• Appro xima te ly 270,000 pe o ple in a tte nda nc e
• $4,000,000+ ra ise d fo r c ha rita b le o rg a niza tio ns
• $16,000,000 impa c t o n lo c a l e c o no my
• 200 jo b s c re a te d o r re ta ine d

Study c o nduc te d b y Unive rsity o f No rth T e xa s in 2017

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Dire c t I mpa c t

I nc re a se d Pro pe rty Va lue

Why you need to quantify it and track it?

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I nc re a se d Pro pe rty Va lue

Why you need to quantify it and track it?

BUDGET

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Va lue Pro po sitio n Me tho ds

• Ho use ho ld inc o me he a t ma p
• T

a x a sse sse d va lue s & ML S pro pe rty va lue s

Me tr ic s & Data

• De fine indic a ting fa c to r (tra ils, tra ilhe a ds, a me nitie s, pa rks, e tc .)
• De fine b o unda ry
• Se t time fra me (pa st, pre se nt)

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House hold Inc ome

2006-2010 2011-2015

In relation to trailheads and trail access

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T a x Asse sso r Va lue s

Maximum Appraised Value: $16,634,506.00 Mean Appraised Value: $218,459.32 Tax Accessor value is on average 10-12% less than market value Direct correlation to Taxing district boundaries and properties assessed

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ML S Va lue s (ma rke t va lue s)

Homes within a 6 block proximity to the Trinity Trails sold for on average

• f 36% more

People willing to pay more $$ for convenience and access to quality infrastructure for improved quality of life

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Ke y F inding s & Conc lusions

• Overall impact of trails is significant as a revenue

generating source to sponsoring agency/organization

• Manage assets and infrastructure like a portfolio

and measure return on investment (ROI)

• Use data to help prioritize where future investment

into infrastructure will impact the community the most (Social Equity)

• Any and all data is important!! Have a system to

track and measure it

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Re c omme ndations & Re sour c e s

Starting your own value analysis:

• Identify data & metrics for analysis
• Me tr

ic s & Data

• De fine ind ic a ting fa c to r(s) (tra ils, tra ilhe a d s, a me nitie s, pa rks, so c io e c o no mic tra its, e tc .)
• De fine & se t b o und a ry fo r a na lysis
• Se t time fra me (pa st, pre se nt)
• Partner with universities, businesses, local

realtor boards, other government agencies

• GIS(Geospatial Information System): Planning students love

these projects, get an intern

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Additio na l Da ta Re so urc e - E SRI

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