In a message dated 5/17/98 7:44:52 AM EST, [log in to unmask] writes:

>  Although I am well versed on the "intangibles" I lack
>  most of the hard economic stuff to which you refer.  Could you send a list
>  of some of the studies (such as Knox).

Leland:

This is a pretty hot topic -- a number of organizations have done economic
impact studies recently.  The ones I have listed below are a few, but I have
also attached an annotated compilation the the Montclair Historic Preservation
Commission pulled together in Spring 1995, mostly based on the bibliography in
D. Rypkema's book, cited below. (Faced with the objections to landmark
designations because they "lowered property values," we wrote away for most of
the studies and compiled them in a volume that we keep for reference in the
planning department. Although the HPC did its meticulous best to keep the
annotations free of errors, I would not quote them directly, but rather go
back to the original studies for specific references -- always the problem
with secondary sources. . .). So here goes:

There's a study (1996) out of Knoxville Knox County TN (Metropolitan Planning
Commission), "The Economic Benefits of Historic Designation" showed that
square foot sales price in a locally designated district increased by 157% --
far exceeding that in comparable undesignated districts.  Contact Gretchen
Beal, Director of Information Services, 423-215-2500.

There is also another recent study out of North Carolina on statewide HP
economic impact (another Donovan Rypkema study), entitled "Profiting from the
Past: The Impact of Historic Preservation on the North Carolina Economy"
(Raleigh: Preservation North Carolina, 1997). Contact PNC, 919-832-3652.

Donovan, author of the book "The Economics of Historic Preservation,"
(published by the National Trust for HP) also has an article in the most
recent "Forum News" (NTHP, May-June 1998) by the same title.  He mentions 3
other recent studies:  "Virginia's Economy and Historic Preservation," by the
Preservation Alliance of Virigina (1995), "Preservation and Property Values in
Indiana," by the Historic Landmarks Foundation of Indiana (1997); and
"Economic Impacts of Historic Preservation," by the Rutgers Center for Urban
Policy Research and the NJ Historic Trust (1997) -- contact NJHT at
609-984-0473.

The issue of economics and preservation is also something undergoing scrutiny
at the international level.  See a recent book: "Economic Perspectives on
Cultural Heritage," Michael Hutter and Ilde Rizzo, eds. (New York:  St.
Martin's Press, Inc., 1997).  This is not an advocacy piece, but rather tries
to dissect the economic/cultural process by which societies analyze exactly
how to "put a price" or value on preservation of the cultural heritage --
mostly they talk about "fixed cultural capital," i.e., historic buildings and
sites.

If you have trouble with the attachment, let me know -- I'll try to cut and
paste it into an email.

Mary