Tuesday, September 25, 2007

on Shade Trees

I am sure there is a lesson in the underprovision of public goods in all of this... but Matt Kahn's Environmental and Urban Economics Blog has a few good pointers on the value of urban dendrology including:

What Is a Tree Worth? Green-city Strategies and Housing Prices” by Grace Wong and Susan Wachter. Feb 2007 (Real Estate Economics, forthcoming)

We have a Shade Tree Commission here in town. I honestly have not looked at where it fits in the projected city budget just released.... but I am sure it's not a big number. Some of the casualties of the city's perpetually on the brink financial miasma are all of these things that don't seem essential in the short run. Yet underinvestment can be costly in the long run. and it's not just a city expenditure issue. Matt Kahn also points out a Los Angeles Times article on similar efforts out west which has an interesting point. A lot of their program is funded by other public agencies such as the Department of Water and Power and the Port of Los Angeles.... hmm.

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