This is the first of several reports published from the Vacant Land Management Study conducted in the late 1990s in Philadelphia by the Pennsylvania Horticultural Society. The goal of the study was to adopt a realistic, cost-effective system through which all vacant land is maintained until an appropriate long-term use for each parcel is found. This reports establishes the financial rationale for considering alternative approaches to vacant land management by demonstrating how the City can generate $1.54 for ever $1.00 invested over time. This ratio reflects only those benefits to be gained from a ‘baseline’ treatment and does not include the benefits that could be gained through longer term reuse strategies that allow for the redevelopment of vacant land.