Natural Area Value (NAV)
The Natural Area Value (“NAV”) is obtained by calculating the per-hectare average price of a hectare of land in your jurisdiction. In British Columbia, this was obtained by calculating the per-hectare average of 4 purchases by BC Parks, 23 purchases by the Greater Vancouver Regional District, and the complete record of acquisitions by the Capital Regional District - all made to convert private land to parks and other green spaces, as shown in Table IAV 1, on page 2 of "Impact Area Value - Part II". The average was $14,610 CAD per hectare (rounded up to $15,000 CAD).
- Units: dollars ($) / hectare (ha)