7 Endangered Species that Hurt Land Values [Bay Area]
Avoiding endangered species that hurt land values is a top priority for developers and can seriously reduce the sale value of private land. Endangered species are addressed in item four of the CEQA checklist as a biological resource. Biological resources under CEQA also include sensitive environments and certain plant species.
To indicate that there will be no significant effect under CEQA, developers must show that their project either:
Does not significantly affect any protected species
Includes sufficient mitigation measures to reduce the effect on the species to a less than significant level
The cost of additional review and mitigation measures for protected species often make development projects infeasible. Because the presence of these endangered species hurts land values so much, it helps to know the most common species to look for.
Towards that end, this post will cover seven of the most common protected species, where they’re found, and what sort of habitat they live in.
That way, if you need to value land, you’ll know whether or not you may have additional costs associated with biological resources.