“Land. They ain’t makin’ it anymore.”

From the Marietta Daily Journal on Friday, November 3, 2006, by MDJ guest columnist Patricia Lane.

Park bond’s economics explained

There are people who say we cannot afford to spend $40 million to purchase greenspace in Cobb County. The financing of the parks bond referendum Cobb will vote on Tuesday would involve the reissuing of bonds that are due to be retired, which means that there would be no change in our taxes because of this referendum. Cobb’s credit rating is so good that we are authorized to issue $200 million in bonds if it were necessary, and because we are such a low risk, our interest rate will be low. We will be able to retire these bonds in a mere 10 years. Including interest, that will cost the average household about $4 per year, approximately the cost of one good cup of coffee.

There are people who argue that we should wait until we can finance the purchase of green space with tax revenues alone to avoid paying interest. The price of land in Cobb has not gone down since the Great Depression. Assuming that there would still be land available to purchase, if we wait only one or two more years, the escalating cost of that land would more than negate any savings associated with the lack of interest payments.

There are people who maintain setting aside land for public parks will remove valuable property from the tax tolls, thus decreasing the amount of taxes coming into county coffers. The Trust for Public Land has documented repeatedly that the increased value of property surrounding green space more than offsets pulling forests and agricultural land out of production. Just look at the cost of lots in Anderson Farm and Parkside at Old Mountain adjacent to Kennesaw Mountain battlefield park. The most expensive land on ear4th surrounds Central Park in New York City. Do you think that NYC officials wish they had a Super Wal-Mart there instead?
Some think county government has no business buying land, competing with private developers who want to bulldoze every remaining spot of green in the name of growth. That might play well in North Dakota, but our county commissioners know that in metropolitan areas good schools and an educated work force are no longer enough to attract new people. Parks and walking trails are ranked more important than retail shopping in surveys of homebuyers. Families and businesses seeking to relocate look for green space as an indicator of quality of life and commitment to environmental concerns. Unless significant parkland is set aside, suburbs turn into the gridlock from which people relocate. And in 2000 Cobb had less green space per capita than the city of Atlanta.

We can’t afford to wait to protect what little green space remains in Cobb. It is right for the environment, it is good for the health and well-being of our citizens and it has clear economic benefits. This is our last chance. As Will Rogers said, “Land. They ain’t makin’ it anymore.” And if we do not act responsibly to save our remaining open land, our grandchildren will ask us why.
Vote Tuesday for more greenspacein Cobb. Vote “Yes” on the last item on the ballot.

Veterinarian Patricia Lane is a 20-year resident of Cobb.