ECONOMIC IMPACT ANALYSIS OF CLIMATE RESILIENCE AND FLOOD DISCLOSURE LEGISLATION

The Waterfront Alliance is a nonprofit organization championing
waterfront sustainability and climate resilience in New York and
New Jersey. The nonprofit engaged the Capstone team to quantify
the financial benefits of two key pieces of climate resilience policy:
1) the NYC Climate Resiliency Design Guidelines updated in 2022,
which provide a framework for proactive flood risk management
strategies and 2) the NYS Flood Disclosure Bill enacted in 2023,
created to increase transparency in property transactions. The
Capstone team took a multifaceted approach—including a thorough
literature review, detailed financial modeling, and comprehensive
stakeholder interviews—in order to explain how these legislative
measures contribute to cost savings, avoidance of unnecessary
expenses, and stimulation of economic activity, especially for
homeowners and renters. The final report includes actionable
recommendations, delineates the quantified economic benefits of the
guidelines, and underscores the importance of such policies in future
urban planning and resilience efforts.