A decision-support framework for using value capture to fund public transit : lessons from project-specific analyses.

Mathur, Shishir; Smith, Adam

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A decision-support framework for using value capture to fund public transit : lessons from project-specific analyses.

2012-05-01
By Mathur, Shishir ; Smith, Adam

File Language:

English

Details

Creators:

Mathur, Shishir ; Smith, Adam
Corporate Creators:

Mineta Transportation Institute
Corporate Contributors:

California. Dept. of Transportation. Office of Research ; United States. Department of Transportation. Research and Innovative Technology Administration
Subject/TRT Terms:
Publication/ Report Number:

CA-MTI-12-1004
Resource Type:

Tech Report
Geographical Coverage:

California
Edition:

Final report.
Corporate Publisher:

Mineta Transportation Institute
Abstract:

Local and state governments provide 75 percent of transit funds in the United States. With all levels of governments under significant fiscal stress, any new transit funding mechanism is welcome. Value capture (VC) is one such mechanism. Based on the “benefits received” principle, VC involves the identification and capture of public infrastructure-led increase in land value. ; While the literature has extensively demonstrated the property-value impacts of transit investments and has empirically simulated the potential magnitude of VC revenues for financing transit facilities, very little research has examined the suitability of VC mechanisms for specific transit projects. This report aims to fill this research gap by examining five VC mechanisms in depth: tax-increment financing (TIF), special assessment districts (SADs), transit impact fees, joint developments, and air rights. ; The report is intended to assist practitioners in gauging the legal, financial, and administrative suitability of VC mechanisms for meeting project-specific funding requirements.
Format:

PDF
Funding:

DTRT07-G-0054
Download URL:

https://rosap.ntl.bts.gov/view/dot/24324/dot_24324_DS1.pdf
File Type:

[PDF - 3.53 MB]
Collection(s):

University Transportation Centers ; US Transportation Collection
Main Document Checksum:

urn:sha-512:d789b1c129cdba0768f3ac68e6c4dd207a80c7af2a0907b14fa90fe09b482ef60d3f21f4a93edac1ce001af00aa294b9c4dc63bc41dcd2068da1709d70b3a12f

File Language:

English

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