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Land Use and Institutional Controls Decisions about leaving contamination in place have important and measurable impacts on remediation capital costs and the long-term cost of site stewardship. While direct costs associated with land use and institutional controls are commonly estimated (planning, administration, monitoring or enforcement costs, for example), long-term indirect costs to local governments, including loss of potential future tax revenues due to use restrictions, are often overlooked. Land use and institutional controls serve to limit the options available for mixed use redevelopment. These options include real estate product types (commercial, industrial, retail, or residential, for example), as well as parks, greenbelts, trails and other public access land uses. In general, the more contamination is removed or treated, the more unrestricted the future uses of the site. Forward-looking, predictive decision analysis tools and techniques for land use and institutional controls require state-of-the-practice cost estimating tools and techniques. Equally important, land use and institutional control analysis must meet multiple objectives, including those of technical site managers, settlement negotiators, fiscal and budgetary planners, and procurement managers. A strategy that focuses only on technical objectives will risk creating artificial impediments to project success by failing to meet future financial, legal or procurement decision making needs. Risk Strategics employs state-of-the-practice estimating techniques for land use and institutional control direct costs based on expected value cost estimates rather than traditional “best estimate” approaches that do not explicitly account for uncertainty. Our analysis incorporates fundamental land use and institutional control characteristics, including:
To facilitate robust decision making for sites with redevelopment potential, Risk Strategics employs sophisticated, user-friendly analytical tools to incorporate the indirect costs and long-term fiscal impacts to local governments caused by limiting options for mixed use redevelopment. Our holistic approach to land use and institutional control analysis is another example of how Risk Strategics provides clients with the tools they need for better economic and regulatory decision making.
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