Land value capture to fund public transportation infrastructure: Examination of joint development projects' revenue yield and stability
economics - appraisal/evaluation, economics - finance, economics - revenue, place - north america, land use - planning
Special assessment districts, Land value capture, Funding public transportation, Transit funding, Transit revenue
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.
Permission to publish the abstract has been given by Elsevier, copyright remains with them.
Mathur, S., & Smith, A. (2013). Land value capture to fund public transportation infrastructure: Examination of joint development projects' revenue yield and stability. Transport Policy, Volume 30, November 2013, Pages 327–335.