Understanding your assets
A starting point for parks transformation in your area is getting a deeper and shared understanding of your parks and green spaces.
Identify the different green spaces or types of green space that are within project scope. The resource Which assets and why can be used to guide your thinking around the pros and cons of including certain landscape types.
- Financial and other data you will need to collate for the financial modelling tool is summarised in the Information about your assets resource.
- Gathering data on visitor numbers or footfall will enable you to understand the social value of your parks and green spaces, and help you to make a more compelling case to funders and investors.
- It is important to collate information on the legal status of your assets and any rights or restrictions affecting them. This could affect asset transfer and ability to raise income in the future.
Thorough initial baselining will be critical in order to develop a robust business plan and make implementation smoother.
Developing a set of Natural Capital Accounts is a way to help you to understand the potential value of your assets and could be used as a tool to unlock endowment contributions (see Funding an endowment).