Land value capture to fund public transportation infrastructure: Examination of joint development projects' revenue yield and stability

Document Type

Journal Article

Publication Date

2013

Subject Area

economics - appraisal/evaluation, economics - finance, economics - revenue, place - north america, land use - planning

Keywords

Special assessment districts, Land value capture, Funding public transportation, Transit funding, Transit revenue

Abstract

This paper examines joint development projects' ability to generate revenue for transit agencies. Using interviews, and primary and secondary text, the paper studies five joint development projects nation-wide and finds that revenue yield and stability from joint development projects vary widely. The paper argues that joint development projects benefit from supportive land use and zoning, and clear policy objectives and political direction. Finally, inflation-adjusted minimum guaranteed revenues and gross revenue sharing help enhance revenue yield and stability.

Rights

Permission to publish the abstract has been given by Elsevier, copyright remains with them.

Comments

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http://www.sciencedirect.com/science/journal/0967070X

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