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date: 23 May 2022

Abstract and Keywords

This chapter focuses on the economic value of open space, various preservation programs, and the impacts of nonfederal fiscal and land use policies on local open space. Earlier studies of open space benefits and preservation programs are reviewed, followed by specification of an open-city model of the fiscal and zoning policies of local government and the underlying household choices of lot size, structure, and other goods. Simulations are used to examine the impacts of state aid on local policies and household responses and their effects on open space. The simulations, as well as a panel data analysis of fiscal and land use patterns in Connecticut townships, suggest that channeling more funds to local governments to relieve fiscal pressure to zone more land for development may be counterproductive, resulting in more development and less open space. Fruitful areas of further research on the financing and economic role of open space are suggested.

Keywords: open space, preservation, land use, zoning, state aid, local government, open-city model

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