Economic Benefits Due to Reduction in HABs - October 2015 (002)

Microsoft Word - Economic Benefits Due to Reduction in HABs - October 2015 (002).doc     Economic Benefits of Reducing Harmful Algal Blooms in Lake Erie Submitted to the International Joint Commission October 2015                                   Prepared by: Veritas Economic Consulting   lobrichons Typewritten Text This study was contracted to evaluate HAB effects in western Lake Erie to regiona. [...] Its results are limited in scope given the narrow range of effects that were considered, the lack of data available for these and other effects, particularly aesthetic and long-range or legacy effects, as well as the narrow geographic scope of the study. [...] S. dollars) are outlined  below.   This study quantified $3.458 billion in residential Property Values: This study quantified housing stock that are located on the shore or within the nearshore (within ½ mile of the $3.458 billion in residential housing stock shoreline) of the western basin of Lake Eriethat that are located on the shore or in the are potentially at risk for being impacted by HAB. [...] To further get an idea of the scale, a 5 shoreline) of the western basin of Lake percent impact to near-shore values and a 10 Erie. Part of this value is at risk for being percent impact to shoreline value translates into impacted by HAB events.  Because Lake a total of $242.1 million impact in property Erie HABs are unique, it is challenging to values. [...] S. Census Bureau  $175,000 to $199,999 0 +/-11 2012).  $200,000 to $249,999 0 +/-11 $250,000 to $299,999 25 +/-23 Census blocks are the smallest geographic area  $300,000 to $399,999 10 +/-15 for which the Bureau of the Census collects and  $400,000 to $499,999 0 +/-11 $500,000 to $749,999 7 +/-11 tabulates decennial census data. The minimum  $750,000 to $999,999 0 +/-11 size of a census block was.