Public Transportation: Federal Role in Value Capture Strategies for Transit Is Limited, but Additional Guidance Could Help Clarify Policies

Public Transportation: Federal Role in Value Capture Strategies for Transit Is Limited, but Additional Guidance Could Help Clarify Policies
Author: David Wise
Publisher: DIANE Publishing
Total Pages: 55
Release: 2010-11
Genre: Transportation
ISBN: 1437937268

State and local gov¿ts. are looking for alternative strategies to help fund transit systems. Value capture strategies (VCS) -- joint develop., special assessment dist., tax increment financing, and development impact fees -- are designed to dedicate to transit either a portion of increased tax revenue or additional revenue through assessments, fees, or rents based on value expected to accrue as a result of transit investments. This report reviewed: (1) the extent to which transit agencies and local gov¿ts. use joint develop. and other VCS to finance transit; (2) what stakeholders have identified as facilitators of, or hindrances to, the use of these; and (3) what stakeholders have said about the effects of fed. policies and programs on the use of these strategies. Illus.

Public Transportation

Public Transportation
Author: U.s. Government Accountability Office
Publisher:
Total Pages: 56
Release: 2017-08-15
Genre:
ISBN: 9781974556359

"State and local governments are looking for alternative strategies to help fund transit systems. Value capture strategies-joint development, special assessment districts, tax increment financing, and development impact fees-are designed to dedicate to transit either a portion of increased tax revenue or additional revenue through assessments, fees, or rents based on value expected to accrue as a result of transit investments. GAO was asked to review (1) the extent to which transit agencies and local governments use joint development and other value capture strategies to fund or finance transit; (2) what stakeholders have identified as facilitators of, or hindrances to, the use of these; and (3) what stakeholders have said about the effects of federal policies and programs on the use of these strategies. GAO analyzed data from 55 of the 71 transit agencies that responded to its information request; reviewed literature, and statutes and regulations; and interviewed transit agency, local government, and Federal Transit Administration (FTA) officials; developers; and experts. "

Innovation in Public Transport Finance

Innovation in Public Transport Finance
Author: Shishir Mathur
Publisher: Routledge
Total Pages: 229
Release: 2016-05-23
Genre: Business & Economics
ISBN: 1317116445

With all levels of governments currently, and for the foreseeable future, under significant fiscal stress, any new transit funding mechanism is to be welcomed. Value capture (VC) is one such mechanism, which involves the identification and capture of a public infrastructure-led increase in property value. This book reviews four major VC mechanisms: joint development projects; special assessment districts; impact fees; and tax increment financing; all of which are used to fund transit in the United States. Through the study of prominent examples of these VC mechanisms from across the US, this book evaluates their performance focusing on aspects such as equity, revenue-generating potential, stakeholder support, and the legal and policy environment. It also conducts a comparative assessment of VC mechanisms to help policy makers and practitioners to choose one, or a combination of VC mechanisms. Although the book focuses on the US, the use of the VC mechanisms and the urgent need for additional revenue to fund public transportation are world-wide concerns. Therefore, an overview of the VC mechanisms in use internationally is also provided.

Using the Economic Value Created by Transportation to Fund Transportation

Using the Economic Value Created by Transportation to Fund Transportation
Author: Sharada Rallabhandi Vadali
Publisher:
Total Pages: 124
Release: 2014
Genre: Infrastructure (Economics)
ISBN:

"TRB's National Cooperative Highway Research Program (NCHRP) Synthesis 459: Using the Economic Value Created by Transportation to Fund Transportation presents information on financing mechanisms used by transportation agencies to capture a portion of the economic value created by public investment in transportation infrastructure to fund transportation improvements. The report provides an overview of ten types of "value capture" mechanisms and presents case examples of how transportation agencies have used these mechanisms to help fund specific highway projects"--Publisher's note.

Public Transportation

Public Transportation
Author: David Wise
Publisher: DIANE Publishing
Total Pages: 42
Release: 2011-05
Genre: Transportation
ISBN: 1437939627

The New Starts program -- admin. by the Fed. Transit Admin. (FTA) -- is an important source of new capital investment in mass transport., providing grants to project sponsors, for the construction of major transit facilities. FTA uses contractors ¿ known as project mgmt. oversight contractors (PMOC) and financial mgmt. oversight contractors (FMOC) -- to help oversee the planning, construction, and financing of major capital projects. This report discusses: (1) how FTA uses PMOCs and FMOCs to oversee New Starts projects and how the agency procures, monitors, and evaluates the contractors¿ services; and (2) the benefits of FTA¿s oversight approach and the challenges FTA faces in conducting its oversight. Illus. A print on demand report.

Urban and Regional Policy and its Effects

Urban and Regional Policy and its Effects
Author: Margaret Weir
Publisher: Brookings Institution Press
Total Pages: 354
Release: 2012-02-02
Genre: Business & Economics
ISBN: 0815722850

The mission of the Urban and Regional Policy and Its Effects series is to inform policymakers, practitioners, and scholars about the effectiveness of select policy approaches, reforms, and experiments in addressing the key social and economic problems facing today's cities, suburbs, and metropolitan areas. Volume four of the series introduces and examines thoroughly the concept of regional resilience, explaining how resilience can be promoted—or impeded—by regional characteristics and public policies. The authors illuminate how the walls that now segment metropolitan regions across political jurisdictions and across institutions—and the gaps that separate federal laws from regional realities—have to be bridged in order for regions to cultivate resilience. Contributors: Patricia Atkins, George Washington University; Pamela Blumenthal, U.S. Department of Housing and Urban Development; Sarah Ficenec, George Washington University; Alec Friedhoff, Brookings Institution; Kathryn Foster, University at Buffalo, SUNY; Juliet Gainsborough, Bentley University; Edward Hill, Cleveland State University; Kate Lowe, Cornell University; John Mollenkopf, Graduate Center, City University of New York; Mai Nguyen, University of North Carolina, Chapel Hill; Manuel Pastor, University of Southern California; Rolf Pendall, Urban Institute; Nancy Pindus, Urban Institute; Sarah Reckhow, Michigan State University; Travis St. Clair, George Washington University; Todd Swanstrom, University of Missouri, St. Louis; Margaret Weir, University of California, Berkeley; Howard Wial, Brookings Institution; Harold Wolman, George Washington University

Implementing Value Capture in Latin America

Implementing Value Capture in Latin America
Author: Martim Oscar Smolka
Publisher: Lincoln Inst of Land Policy
Total Pages: 68
Release: 2013
Genre: Business & Economics
ISBN: 9781558442849

The report examines a variety of specific instruments and applications in municipalities throughout the region under three categories: property taxation and betterment contributions; exactions and other direct negotiations for charges for building rights or the transfer of development rights; and large-scale approaches such as development of public land through privatization or acquisition, land readjustment, and public auctions of bonds for purchasing building rights. It concludes with a summary of lessons learned and recommends steps that can be taken in three spheres: Learn from Implementation Experiences Increase Knowledge about Theory and Practice Promote Greater Public Understanding and Participation

Financing Transit-Oriented Development with Land Values

Financing Transit-Oriented Development with Land Values
Author: Hiroaki Suzuki
Publisher: World Bank Publications
Total Pages: 267
Release: 2015-01-15
Genre: Business & Economics
ISBN: 1464801509

This book provides cities with strategies and methodologies for applying land value capture financing schemes for capital-intensive transit and transit-related investments, based on the successful experiences of Mass Transit Railway Corporation in Hong Kong SAR, China, and Japanese railway companies in Tokyo metropolitan areas.

Bulletin of the Atomic Scientists

Bulletin of the Atomic Scientists
Author:
Publisher:
Total Pages: 56
Release: 1988-01
Genre:
ISBN:

The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.