Restricted Research - Award List, Note/Discussion Page
Fiscal Year: 2023
2516 The University of Texas at San Antonio (144404)
Principal Investigator: Lee, Ryun Jung
Total Amount of Contract, Award, or Gift (Annual before 2011): $ 25,689
Exceeds $250,000 (Is it flagged?): No
Start and End Dates: 8/1/22 - 6/30/23
Restricted Research: YES
Academic Discipline: Engineering and Integrated Design
Department, Center, School, or Institute: Ceid School Of Arch & Planning
Title of Contract, Award, or Gift: The effect of buyouts on nearby property values
Name of Granting or Contracting Agency/Entity:
Lincoln Institute of Land Policy
CFDA: 0
Program Title: none
Note:
SAMs 1.1.1; Our research goal is to improve the understanding of the indirect effects of land-based climate adaptation strategies by questioning what are the effects of floodplain buyout activity on nearby tax-assessed property values. We will measure the effects of buyout activity with respect to the potential: (1) negative effects of buyouts on nearby property values; (2) increased resiliency of property values to nearby flood damages; and (3) benefits of green infrastructure (GI) facilitated through buyouts. We focus on the Houston metro, Texas, which has actively implemented buyout projects before and after Hurricane Harvey in 2017. We will model values over time with varying degrees of exposure to buyout activity and determine how those effects changed after Harvey. We will also evaluate the GI by tree canopy and vegetation richness. The final outcome will introduce the marginal effects to property values when buyout properties are nearby, when a disaster happens in these areas, and when buyout properties function as GI. Overall, this project will provide critical knowledge on buyouts and support the municipal decision-making process by 1) addressing the partial recovery of a buyout project's cost through the financial benefits of post-buyout ecological restoration and increased resilience to natural hazards, and 2) suggesting appropriate scale, pace, and clustering of buyouts to minimize property value spillover effects.
Discussion: No discussion notes