Value Capture In Situ: Participation, Evaluation, and Signaling in Kansas City, MO

摘要

This paper provides a qualitative examination of the implementation of a value capture-funded streetcar investment in Kansas City, MO. Using semi-structured interviews, I show that the local benefits of value capture financing go beyond revenue-raising. Local officials used value capture to limit the public approval process to residents who supported enhanced transit and to redefine the metrics of a successful transport investment in terms of land development impacts. This strategic, and unexpected, use of value capture underwrites property-led economic development that uses infrastructure investments to signal public-sector priorities, in terms of both geography and populations.