A Methodology and Measuring the Benefits and Costs of Economics Development Programs: Manual for Cost-Benefit Analysis Using the UICUED Evaluation Spreadsheetand the REMI Model.

The purpose of this manual is to familiarize potential users with the CUED Evaluation Spreadsheet for performing cost-benefit analysis of economic development projects in Chicago. For a detailed description of the economic theory and estimation techniques used in constructing the Evaluation Spreadsheet, see Technical Documentation. It should be understood from the start that the Evaluation Spreadsheet is a tool that helps to characterize projects, but can in no way replace policy analysis. The Evaluation Spreadsheet produces three distinct measures of project impact: an overall cost-benefit estimate in dollars, a measure of the fiscal impact on the City of Chicago, and an index of neighborhood spillovers. Each of these provides important information to the decision making process. The spreadsheet also indicates the distribution of benefits among income groups. Still, other salient project characteristics not explicitly addressed in the Evaluation Spreadsheet provide a logical, and well organized starting point for considering such factors.