Value Capture for Transportation Finance

摘要

Value capture seeks to generate revenue by extracting a portion of the gains in the value of land that result from improvements to transportation networks.?In this paper we identify value capture strategies, including land value taxes, tax increment ?nancing, special assessments, transportation utility fees, development impact fees, negotiated exactions, joint development, and air rights. We evaluate each of the policies according to four criteria: ef?ciency, equity, sustainability, and feasibility. The value capture concept is placed within a more general framework of transportation ?nance that emphasizes the relationship between different types of charges and groups of bene?ciaries from transportation investments.