Revenue Forecasts for Innovative Light Rail Financing Options: Denver Case Study

摘要

This report is designed to illustrate the magnitude of revenues that potentially can be generated by value caputure techniques. The estimates are structured around a case study of a 77-mile light rail system proposal for the Denver area. The value capture techniques covered include lease or sale of undeveloped air and ground rights, lease or sale of developed air and ground rights, lease of concession space, special benefit assessments, tax increment financing, turnkey ventures, and joint ventures. The report includes a station-by-station analysis of the impacts of three different levels of development posture in station areas: conservative, moderate, and aggressive. The study found the yield of the aggressive posture to be some twenty times that of the conservative scenario, suggesting that the legislative and zoning changes necessary to implement such an option might be worth a jurisdiction's effort. The report should be especially useful for those with responsibilities in development or transportation policy.