Value Capture: Transportation Reinvestment Zones

Details

• Corporate Creators:
  United States. Department of Transportation. Federal Highway Administration. Office of Innovative Program Delivery
• Contributors:
  Bishop, Thay
• Subject/TRT Terms:
  • Value capture
  • Improvements
  • Land values
• Resource Type:
  Brief
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. Department of Transportation. Federal Highway Administration. Office of Innovative Program Delivery
• Abstract:
  Transportation reinvestment zones (TRZs) are designated areas located around transportation projects created to encourage development and capture property tax increments to help fund the improvements. TRZs can be used to capture both present and future economic growth created as a result of the transportation improvements, and they may be used in conjunction with other value capture methods. TRZs do not raise tax rates; rather, they allow sponsors to issue debt by leveraging new property tax revenues generated within the TRZ. In order to be designated as a TRZ, the land involved must be underdeveloped and receive direct benefits from the transportation improvement. Benefits may include improved access, public safety, and congestion reduction. Unlike tax increment financing, TRZs do not normally necessitate a board of directors. TRZs are a useful tool that can be used to support a broad range of transportation projects.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/55671/dot_55671_DS1.pdf
• File Type:
  [PDF - 346.16 KB]
• Collection(s):
  Federal Highway Administration
• Main Document Checksum:
  urn:sha-512:940f8910b1291fb5bc3c99ab44d79b847e2bef6d26f77b6859ac1f49382fe16502cd9c22c6d61e1c1c8a9aa87f5c1e4e0d2ef7de8c99042e373f0cbd60628044