Park Corridor Benefits


Below is a list of benefits associated with construction a "Park Corridor" in East St. Louis.

• Unfortunately with a project as grand as this one the costs associated with it often outweigh the benefits. Because of this fact, other factors must be taken into account to make the project worth while. One of these factors is Willingness to Pay (WTP). People's WTP for this project can be refelected through a large amount of Intrinsic Benefits linked to this project. When taking these intrinsic benefits into account it is found that even though costs outweigh benefits, this project should still be done.

• It is estimated that there will be 35,000 visitors per year.

• Bicycle and in-line skate rentals are based on 240 days since these activities are weather permitting. Binocular rental is based on 365 days.

• Tourism values are relatively low with this project, and reflect benefits acheived by the local economy, not the "Park Corridor" itself. It is expected that the "Park Corridor" will be mostly visited by local communities, and will not attract many tourists to the area. These values are based on a per person basis for a two night stay.

• Travel= public transport, gas, running costs of car, cabs, etc.
  Food= restaurant checks, groceries, snacks, etc.
  Equiptment= cameras, film, suitcases, clothing, etc.
  Hidden Costs= souvenirs, theft, unexpected costs, etc.

• Reservations of park land is $10 for the entire group, not per person.

TOTAL BENEFITS= $577,500

Recreational Activities	Rental Fees	Renters / day	Total
Bicycle	$15 / day	30	$108,000
In-line skates	$15 / day	20	$72,000
Binoculars	$10 / day	10	$36,500
	Total Recreation Benefits =		$216,500
Tourism (per person)	2 Night Stay	# Of Visitors	Total Per Annum
Travel	$40.00	1,000	$40,000
Lodging	$150.00	1,000	$150,000
Food (restaurants, groceries)	$90.00	1,000	$90,000
Equiptment	$50.00	1,000	$50,000
Hidden costs	$30.00	1,000	$30,000
	Total Tourism Benefits =		$360,000
Reservations/Picnics	Fees	# Per Annum	Total
Group of 10+	$10.00	100	$1,000
	Total Reservation Benefits =		$1,000

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