The process began by focussing on what were the desired outcomes of the report and the benefits of the report subsequent to completion. Some of the main desired outcomes were that the report would be easy to keep updated, would allow for analysis of any geographically area with the Town (ranging from individual properties to the entire Town), and would have practical long term applicability.
With this in mind the data and mapping associated with the report were all developed though the Town’s GIS system. Thus, completing an economic evaluation of evaluation of a development application, secondary planning area or other geographic area is a simple process that can be completed quickly and efficiently.
As mentioned previously measuring the economic value of natural capital assets is a relatively new field of research, however, there are several excellent examples reports that have been completed and research undertaken by the Canadian Urban Institute, David Suzuki Foundation, Ducks Unlimited, Credit Valley Conservation Authority, Friends of the Greenbelt and others.
Within said mentioned reports there has been extensive background research completed pertaining to the per hectare value’s associated with protection of all various components of the natural ecosystem and as this data is relatively current there was no need for Aurora to duplicate this research.