Browsing National Center for Smart Growth Research Works by Subject "brownfields"
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ItemDeterminants and Effects on Property Values of Participation in Voluntary Cleanup Programs: The Case of Colorado(2005) Alberini, AnnaState Voluntary Cleanup Programs (VCPs) were established starting in the 1990s to encourage the environmental remediation and redevelopment of contaminated properties. These programs typically offer liability relief, subsidies and other regulatory incentives in exchange for site cleanup. This paper asks three questions: First, what type of properties are attracted to voluntary cleanup programs? Second, what is the interaction between these state programs and other incentives for remediation and economic development, such as Enterprise Zone and Brownfield Zone designations? Third, what is the effect of participation in the VCP on property values? We use data from Colorado’s VCP to answer these questions. We find that most of the properties enrolled in this program were not previously listed on EPA’s contaminated site registries, and that most applicants seek to obtain directly a “no further action” determination without undergoing remediation. The main determinants of participation are the size of the parcel and whether the surrounding land use is primarily residential, while other incentives have little effect. Properties with confirmed contamination sell at a 47% discount relative to comparable uncontaminated parcels, and participation tends to raise the property price, but this latter effect is not statistically significant. Taken together, these findings suggest that the participating properties are those with high development potential, and hint at the possibility that owners or developers may be seeking to obtain a clean bill of health from the State with only minimal or no cleanup efforts. Were these findings confirmed with data from other states, they would raise doubts about the effectiveness of voluntary programs in encouraging remediation and their usefulness in reversing some of the undesired effects of the Superfund legislation. ItemA Requiem for Smart Growth?(2006) Knaap, GerritIn the days following the 2004 presidential election there was much consternation in Democratic circles. George Bush won again; the Republicans picked up seats in the House and Senate; and the Republican majority seemed to have grown in depth and strength. Pundits and progressives were already wondering--could the Democrats ever recapture the hearts of an American public now apparently obsessed with security, morality, and personal charm. Among academic and professional planners there was similar concern. Although John Kerry had never been a champion of smart growth, it was clear that the prospects for smarter growth were far greater in an administration headed by Kerry than one headed by Bush. Smart growth had not fully disappeared in the federal agenda in the first Bush administration, but the momentum had clearly waned. Further, the discussion in the planning chat-rooms and list serves focused on the blue and red maps, which made clear that Republicans dominated not only the central and southern states but also the rural and suburban areas of most every state in the union. The subject line of one long conversation on the PLANET list serve was “sprawling Republicans” which conveyed the alarm: the new American majority was deeply rooted in urban sprawl. In the wake of these political events, it is reasonable to ask: can smart growth survive another term of President Bush? If so, what must be done to regain the momentum and capture the favor of an ever-growing conservative majority? In this period of national reflection, therefore, I consider the state of smart growth and its prospects for the near- term future. I start with a brief history of its evolution, continue with an examination of recent trends, and follow with an assessment of whether smart growth will change those trends. I conclude with recommendations for how smart growth might adapt to the new political realities. ItemWhat Are the Effects of Contamination Risks on Commercial and Industrial Properties? Evidence from Baltimore, Maryland(2005) Alberini, Anna; Longo, AlbertoUsing the hedonic pricing approach, we investigate how the information released on public registries of contaminated and potentially contaminated sites affects nearby commercial and industrial properties in Baltimore, Maryland. We find that commercial and industrial properties are virtually unaffected by proximity to a site with a history of contamination. Knowing that the site is no longer considered contaminated does not have a rebound effect on property prices either. We also find that urban economic development policies, such as Empowerment Zones and Enterprise Zones, have little effect on property values. In sum, brownfield properties in Baltimore are not particularly attractive investments for developers, and there is little potential for self-sustaining cleanup based on appropriate fiscal incentives, such as Tax Increment Financing. It is doubtful that “one size fits all” measures to encourage the cleanup of contaminated sites can be successful in this context.