asset management

    ECOLOGICAL ACCOUNTING: Do you wonder how streams influence neighbourhoods and property values? To find out, download the latest report by the Partnership!

    EAP, the Ecological Accounting Process, addresses this question: How do communities decide how much to invest in the natural commons? The EAP methodology and metrics enable a local government to determine the WORTH of the natural commons, with ‘worth’ being the foundation for an annual budget for maintenance and maintenance of ecological assets. Application of the EAP methodology can help to inform an investment strategy for protection and/or restoration of ecological-hydrological function,” stated Tim Pringle.

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    VALUATION OF ECOLOGICAL SERVICES: Do you wonder how streams influence property values and purchasers? To find out, download the Shelly Creek report!

    “We arrived at an important insight about ecological assets; that is, an ecological commons is a land use. Regulations define stream functions and setback requirements. Whether it is a pond, wetland or riparian zone, it can be measured. The assessed values of adjacent parcels can be used to provide a value for the natural commons. The inference is that the area of the natural commons would be zoned residential or whatever if the stream was not there,” stated Tim Pringle.

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    Natural Assets as Ecological Systems and Services – IF YOU WONDER WHY, THEN CONTINUE READING (#3 in a series)

    “The idea of a natural commons supporting a package of ecological services which the community wants and expects to have implies that approved plans for land development should not result in ecological services being merely residual outcomes. Should the community simply be happy with what is left?” stated Tim Pringle. “Rather, their maintenance and management (M&M) should be planned as core municipal services.”

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    BC’S FIRST ASSET MANAGEMENT BYLAW: City of Courtenay leads by example

    “The City of Courtenay previously adopted an asset management policy in 2015. The bylaw takes the policy one step further, and formally stipulates that decisions on the renewal, upgrade, and acquisition of the City’s assets must consider the full cost throughout the expected lifespan of the asset. As infrastructure ages, maintenance costs typically increase. And failure to maintain assets can dramatically shorten their lifespans, potentially resulting in the need for costly upgrades,” stated David Allen.

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