The Town of Clarkstown Town Board has unanimously adopted a new “Natural Capital” resolution aimed at positioning the town as a national leader among local governments in implementing natural capital accounting principles.
The initiative, led by George Hoehmann and the Town Board, focuses on recognizing and accounting for the economic value of natural resources such as forests, wetlands, streams, parks, agricultural land, and open space.
Town officials said these natural resources provide critical benefits to residents, including clean water, flood protection, improved air quality, and recreational opportunities, while also contributing measurable economic value that is often overlooked in traditional planning and budgeting processes.
Under the resolution, Clarkstown will work alongside leading academic and nonprofit experts in the natural capital field to develop systems that can be implemented locally to benefit taxpayers and strengthen long-term financial planning.
Officials noted that natural capital systems can help municipalities improve credit ratings, lower borrowing costs, and better identify the economic and environmental value tied to major infrastructure projects and grant opportunities.
The move is the latest in a series of environmental initiatives undertaken by Clarkstown, complementing ongoing open space preservation efforts, clean energy programs, and other sustainability projects that have helped the town earn recognition as the “Greenest Town” in Rockland County.
Supervisor Hoehmann praised the Town Board’s action, saying the new framework will help Clarkstown better understand the fiscal benefits tied to preserving natural resources.
“Recognizing the measurable economic value of our natural assets will allow the Town and its residents to fully realize the fiscal benefits of keeping these resources protected and preserved,” Hoehmann said. “By thoroughly accounting for these often overlooked, yet fundamental sources of capital, we can better align our planning and budgeting to reflect both the interest of the taxpayer and the long-term health of the ecosystems on which we all depend.”
Dr. Eli Fenichel, Knobloch Family Professor of Natural Resource Economics at the Yale School of the Environment, also praised Clarkstown’s efforts, noting that environmental quality and natural resources directly impact local economies through property values, tax revenues, and municipal bond costs.
“Towns like Clarkstown are leading the way,” Fenichel said. “Getting a formal handle on natural resources as a form of capital will help local leaders make decisions that improve lives while also strengthening the town’s fiscal position.”
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