[CPEO-BIF] "Port authority research shows impact on property values when brownfields are cleaned, " Warren, Ohio

[Lenny Siegel <lsiegel@cpeo.org>]

Port authority research shows impact on property values when brownfields are cleaned

By Ed Runyan
Youngstown Vindicator (OH)
August 19, 2016


WARREN - A study carried out by a Western Reserve Port Authority intern shows property values increased 18 percent in five years around former Mahoning County brownfield sites that were cleaned.

And it shows property values adjacent to brownfield sites that had not been cleaned were 66 percent lower than properties one mile away.

Brownfields are industrial or commercial properties with perceived or real contamination, such as the former St. Joseph Riverside Hospital, said Sarah Lown, public-finance manager for the port authority’s economic-development team, called the Northeast Ohio Development and Finance Agency.

The study produced results similar to what has been observed in other industrial areas with brownfields, Lown said – that cleaning brownfields encourages investment in cities, decreases the amount of abandoned and vacant properties and increases the tax base.

…

For the entire article, see
http://www.vindy.com/news/2016/aug/19/study-cleaned-brownfield-sites-boost-pro/

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice/Fax: 650/961-8918 
<lsiegel@cpeo.org>
http://www.cpeo.org

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