The concept is straightforward:
-The government identifies a budgetary goal or community benefit, including infrastructure investment, social or environmental benefit, or other needs it wants to fund with additional revenue.
-In partnership with experts specializing in this work, the government inventories all publicly owned assets in a jurisdiction. Typically, the value of publicly owned assets far exceeds estimates, which are usually developed using the historical cost of purchase, not current market value.
-The government identifies one or more of those assets that are underutilized to be developed to their highest and best use within parameters set by policymakers.
-The government uses internal or external expertise to improve, manage and maintain the asset.
-The additional value/revenue that is created is transferred to the public in the form of concrete benefits, identified in the first step.
-Government and outside entities provide oversight throughout the process.
“Simply put, a lot of local governments are sitting on a gold mine and don’t know it. PAW uses data and analysis as picks and shovels to help local leaders dig in.” - Ben McAdams, former member of Congress and former Salt Lake County Mayor