Tools for port TRZs and TRZs for multimodal applications : project summary.
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2017-01-01
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Alternative Title:0-6890 : tools for port TRZs and TRZs for multimodal applications : project summary.
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Abstract:Transportation reinvestment zones (TRZs) are a
relatively new tool for infrastructure finance that
allows governmental entities with taxing
authority to set aside local match contributions
for transportation projects and capture the land
value increases that result from the
transportation projects. TRZs work by
designating the area around a needed
transportation project as an impact zone, and
allowing the governmental entity that built the
project to capture some or all of the increment in
local property and sales tax revenues that result
from the growth in the zone’s tax base. TRZs join
a suite of funding sources and finance
mechanisms that ports currently use but that do
not address all of a port’s financial needs.
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