Community decision makers are increasingly looking at installing green infrastructure to address stormwater issues. To be able to retrofit private property with such natural stormwater solutions, there needs to be a mechanism that can gain private sector involvement and investment.
One approach is to use an auction system, where landowners learn about the economic value of stormwater best management practices (BMPs) and then participate in an auction to bid on what BMPs they are willing to pay for.
In this program, Megan Lewis, AICP, of Cardno JFNew, and Sabina Shaikh of RCF Economic and Financial Consulting, described a project conducted for the City of Valparaiso, Indiana, to help that community prioritize stormwater BMP installation in a specific neighborhood.
Megan Lewis, AICP, is a regional planner with more than 20 years of experience with land-use planning, design, and conservation. She is Cardno JFNew's communications specialist, using her knowledge of environmental conservation and management tools to communicate critical information to audiences that include community stakeholders, project partners, and clients. Previously, Lewis was a senior research associate at APA, where she led several complex, multi-year projects.
Sabina Shaikh is a lecturer in economics and public policy at the University of Chicago and a senior research economist at RCF Economics and Financial Consulting, based in Chicago. She was previously on the faculty of the Department of Food and Resource Economics at the University of British Columbia since July 1999. Her areas of expertise include environment and natural resource policy analysis, econometrics, welfare analysis, and non-market valuation.