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The relationship between a home's sale price and its proximity to different open spaces types is explored using a data set comprised of single-family home sales in the city of Portland, within Multnomah County, between 1990 and 1992. Homes located within 1,500 feet of a natural area park, where more than 50% of the park is preserved in native and/or natural vegetation, are found to experience, on average, the largest increase in sale price. The open space size that maximizes a home's sale price is calculated for each open space type. Natural area parks require the largest acreage to maximize sale price, and specialty parks are found to have the largest potential effect on a home's sale price. A zonal approach is used to examine the relationship between a home's sale price and its distance to an open space. Natural area parks and specialty parks are found to have a positive and statistically significant effect on a home's sale price for each zone studied. Homes located adjacent to golf courses (within 200 feet) are estimated to experience the largest increase in sale price due to open space proximity although the effect drops off quickly as distance from the golf course increases. (JEL Q2, R14)

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To date, the regional economics literature has neglected to combine a county-level dynamic computable general equilibrium (CGE) model with a recreation demand model to analyze the temporal e¨ects of reallocating water from agriculture to recreational use. This study begins to address this weakness in the literature by considering water reallocation issues in rural Nevada. By combining a recreation demand model with a CGE model, this study analyzes the policy e¨ects on both the agricultural sectors and the recreation-related sectors. Model results show that the increase in non-agricultural output does not o¨set the reduction in agricultural output due to water withdrawal.

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Abstract. We investigate relationships between environmental governance and water quality in two adjacent growing metropolitan areas in the western US. While the Portland, Oregon and Vancouver, Washington metro areas share many common biophysical characteristics, they have different land development histories and water governance structures, providing a unique opportunity for examining how differences in governance might affect environmental quality. We conceptualize possible linkages in which water quality influences governance directly, using monitoring efforts as a metric, and indirectly by using the change in the sale price of single-family residential properties. Governance may then influence water quality directly through riparian restoration resulting from monitoring results and indirectly through land use policy. We investigate evidence to substantiate these linkages. Our results showed that changes in monitoring regimes and land development patterns differed in response to differences in growth management policy and environmental governance systems. Our results also showed similarities in environmental quality responses to varying governance systems. For example, we found that sales prices responded positively to improved water quality (e.g., increases in DO and reductions in bacteria counts) in both cities. Furthermore, riparian restoration efforts improved over time for both cities, indicating the positive effect of governance on this land-based resource that may result in improved water quality. However, as of yet, there were no substantial differences across study areas in water temperature over time, despite an expansion of these urban areas of more than 20 % over 24 years.The mechanisms by which water quality was maintained was similar in the sense that both cities benefited from riparian restoration, but different in the sense that Portland benefited indirectly from land use policy. A combination of long-term legacy effects of land development, and a relatively short history of riparian restoration in both the Portland and Vancouver regions, may have masked any subtle differences between study areas. An alternative explanation is that both cities exhibited combinations of positive indirect and direct water quality governance that resulted in maintenance of water quality in the face of increased urban growth. These findings suggest that a much longer-term water quality monitoring effort is needed to identify the effectiveness of alternative land development and water governance policies.

This study uses the hedonic price method to investigate the effect of five water quality parameters on the sale price of single-family residential properties in two urbanized watersheds in the Portland, Oregon-Vancouver, Washington metropolitan area. Water quality parameters include E. coli or fecal coliform, which can affect human health, decrease water clarity and generate foul odors; pH, dissolved oxygen, and stream temperature, which can impact fish and wildlife populations; and total suspended solids, which can affect water clarity, aquatic life, and aesthetics. Properties within 1 =4 mile, 1 =2, mile, one mile, or more than one mile from Johnson Creek are estimated to experience an increase in sale price of 13.71%, 7.05%, 8.18%, and 3.12%, respectively, from a one mg/L increase in dissolved oxygen levels during the dry season (May-October). Estimates for a 100 count per 100 mL increase in E. coli during the dry season are 22.81% for properties within 1 =4 mile of Johnson Creek, 20.86% ( 1 =2 mile), 21.19% (one mile), and 20.71% (greater than one mile). Results for properties in Burnt Bridge Creek include a significantly positive effect for a one mg/L increase in dissolved oxygen levels during the dry season for properties within 1 =2 mile (4.49%), one mile (2.95%), or greater than one mile from the creek (3.17%). Results for other water quality parameters in Burnt Bridge Creek are generally consistent with a priori expectations. Restoration efforts underway in both study areas might be cost justified based on their estimated effect on property sale prices.

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