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Determinants And Effects On Property Values Of Participation In Voluntary Cleanup Programs: The Case Of Colorado

  • ANNA ALBERINI

"State voluntary cleanup programs (VCPs) were established in the 1990s to encourage cleanup and redevelopment of contaminated properties. I ask three questions: First, what properties are attracted to VCPs? Second, is there an interaction between VCP incentives and enterprise or brownfield zone incentives? Third, does participation in VCPs affect property values? Data from Colorado's VCP suggest that (a) the main determinants of participation are the size of the parcel and the surrounding land use, (b) other incentives have little effect, (c) properties with confirmed contamination sell at a 43%-56% discount, and (d) participation does tend to raise the property price." ("JEL" R14, Q58, K32) Copyright 2007 Western Economic Association International.

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Article provided by Western Economic Association International in its journal Contemporary Economic Policy.

Volume (Year): 25 (2007)
Issue (Month): 3 (07)
Pages: 415-432

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Handle: RePEc:bla:coecpo:v:25:y:2007:i:3:p:415-432
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  17. William F. Fox & Matthew N. Murray, 2004. "Do Economic Effects Justify the Use of Fiscal Incentives?," Southern Economic Journal, Southern Economic Association, vol. 71(1), pages 78-92, July.
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  19. Alan H. Peters & Peter S. Fisher, 2002. "State Enterprise Zone Programs: Have They Worked?," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number sezp, March.
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  24. repec:cup:cbooks:9780521549486 is not listed on IDEAS
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