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HomeMy WebLinkAbout04-25-18 Presentation re Headwaters Benefits of Shared Use Pathhttps://headwaterseconomics.org Benefit Analysis:Belgrade-Bozeman Frontage Path https://headwaterseconomics.orghttps://headwaterseconomics.org Headwaters Economics is an independent, nonprofit research group that works to improve community development and land management decisions. https://headwaterseconomics.org https://headwaterseconomics.org Methods & Assumptions •20 year lifespan •2 years to construct •7% discount rate •Conservative assumptions https://headwaterseconomics.org Overall Results Benefits: +$22.8 million https://headwaterseconomics.org Overall Results Benefits: +$22.8 million Costs: $8.9-11.7 million https://headwaterseconomics.org 1. Public Health & Safety $21.7 million Increased Safety •Records show 5 crashes over 6 year period •16 crashes avoided https://headwaterseconomics.org 1. Public Health & Safety $21.7 million Increased Safety •Records show 5 crashes over 6 year period •16 crashes avoided Improved Community Health •60% of inactive residents increase physical activity with new trail https://headwaterseconomics.org 2. Economic Benefits Increased Property Values •5-10% higher near trails https://headwaterseconomics.org 2. Economic Benefits Increased Property Values •5-10% higher near trails Business Attraction & Growth •Commercial areas benefit •Those arriving by bike or foot spend more money https://headwaterseconomics.org 3. Environmental Sustainability $978,000 Reduced Greenhouse Gas Emissions •Increased non-motorized commuting •34,545 metric tons of CO2 removed https://headwaterseconomics.org 4. Quality of Life $81,000 Improved Experience •Estimate 3,000 new trips per year https://headwaterseconomics.org 4. Quality of Life $81,000 Improved Experience •Estimate 3,000 new trips per year Socioeconomic Opportunity & Social Cohesion •Benefits of trails only available to those with access •Residents use trails to meet neighbors and engage in community activities https://headwaterseconomics.org 5. Community Planning Priorities Ranked High in all Plans •Gallatin County Trails Plan, Transportation Plan •Bozeman PROST, Transportation, Strategic Plan •Belgrade Transportation, Growth Policy •MDT Corridor Study https://headwaterseconomics.org Summary •Benefits over 20 years estimated at $22.8 million •Many additional benefits cannot be monetized •Twice the estimated cost of construction and maintenance https://headwaterseconomics.org Thank You! Kelly Pohl 406-599-7841 kelly@headwaterseconomics.org