Intensification of land use in Oakville, primarily in the form of larger homes than traditional norms, is putting increased pressure on the existing storm water system. As new, larger homes are built, there may be a corresponding and tangible loss of storm water service to the municipality through reductions in permeable surface to absorb and manage the water.
The pilot area is fully urbanized, and so the natural assets that form the basis of the pilot include: publicly-owned ditches, green spaces, tree canopy and the remnants of once-intact streams; and, privately held natural assets such as streams and ditches on the property of individual landowners.
Management questions that Town of Oakville explored through the MNAI initiative included:
- What is the value to the Town of the loss of municipal services created by the conversion of existing natural assets, and is there any corresponding financial risk and/or liability to Oakville?
- What can be learned from the remnant stream in the pilot area that would help Oakville better prioritize and manage other streams in the community?
- Can the monetization of municipal services create a basis for new municipal strategies to manage natural assets?
Click here to read Oakville’s case study.
UPDATE: The results of the pilot have found that Oakville’s natural assets are unexpectedly valuable. Find out more here.