MCU14/0106 Appendix J - Retail Needs Assessment

Vehicle Accident Reduction
NOOSA CIVIC EXPANSION, 2018 ($2014)                                                                                                  TABLE 9.9
                                                                        Unit               Low Bound                 High Bound
Total trips diverted                                   (1)              (no.)                   83,250                   333,000
Distance saved                                         (2)              (kms)               9,478,100                 37,912,300
Incidence of road
                                                       (3)              ($/km)                  0.0173                      0.0173
accidents and fatalities
Value of decreased
incidence of road                         (2) x (3) = (4)               ($)                   163,500                    654,100
accidents and fatalities
1. Figures have been rounded.
Source : QDTMR ; BITRE ; Urbis



9.4.4        TOTAL PUBLIC GOOD BENEFITS
As shown in Table 9.10 below, the total public good benefits resulting from a reduction in escape
spending, and hence travel, is estimated to amount to between $440,000 and $1.76 million (high) in year
1, increasing each year thereafter in line with population growth.


Total Public Good Benefits
NOOSA CIVIC EXPANSION, 2018 ($2014M)                                                                                             TABLE 9.10
                                                                              Low Bound                        High Bound
Environmental benefits                                                            0.02                               0.08
Air pollution reduction - health savings                                          0.26                               1.03
Vehicle accident reduction                                                        0.16                               0.65
Total value of public good benefits                                               0.44                               1.76
1. The value of reduced wear and tear on roads has not been included in this analysis.
Source : Urbis




9.5          RESULTS OF TRAVEL, TIME AND ENVIRONMENTAL BENEFITS
Table 9.11 shows the total economic benefits resulting from the proposed expansion in terms of travel,
time and environmental benefits. The analysis shows that the reduced travel to centres outside of the
trade area for shopping purposes is estimated to generate benefits of between $5.46 million and $21.84
million in 2018, in 2014 dollars. Private savings contributes the largest share of these benefits,
particularly relating to time and fuel.


Annual Benefits Associated with Travel, Time and Environmental Savings
NOOSA CIVIC EXPANSION, 2018 ($2014M)                                                                                             TABLE 9.11
                                                                        Low Bound                          High Bound
User time savings                                                                 2.86                             11.45
Fuel savings                                                                      1.32                               5.29
Vehicle maintenance and depreciation savings                                      0.84                               3.34
Environmental benefits                                                            0.02                               0.08
Air pollution reduction - health savings                                          0.26                               1.03
Vehicle accident reduction                                                        0.16                               0.65
Value of time savings                                                             5.46                             21.84
1. The value of reduced wear and tear on roads has not been included in this analysis.
Source : Urbis


The net present value (as at 2014) of the total economic value of this annual stream of benefits for the
period 2018 - 2027 is shown below in Table 9.12. The future benefits have been discounted to
demonstrate the value in today’s dollars.




132       TRAVEL, TIME AND ENVIRONMENTAL BENEFITS
                                                                                                                                                 URBIS
                                                                                          NOOSA CIVIC - RETAIL NEEDS ASSESSMENT DEC 2014 MASTER - FINAL