Funding Urban Conservation: A Study of Bothell’s Wayne Park

Abstract

This research report was created to support the City of Bothell’s current decision-making process in the Wayne Park conversion project. In December 2017, the City of Bothell purchased Wayne Golf Course with the intention of converting the entire 89-acre property to a public city park1. Bothell funded the purchase with the help of grants and a partnership with King County1,2. The city seeks to develop 4 acres within the front 9 portion of the Wayne Golf Course into an economic engine that will activate the land and offset costs associated with the purchase and maintenance of the 89-acre park. The purpose of this study is to evaluate the economic impact of the city’s purchase of Wayne Golf Course by answering the following research question: Will the conversion of Wayne Golf Course into a City Park have a positive impact on surrounding property values, thereby (partially) offsetting the cost of the project? The City of Bothell is a rapidly developing suburban city experiencing a population boom and this purchase draws attention to a greater question of how we fund conservation in rapidly developing areas.