Understanding Value Capture as a Transportation Finance Strategy in Massachusetts PDF Download

Author:
Publisher:
ISBN:
Category : Local transit
Languages : en
Pages : 6

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Author: Massachusetts. Massachusetts Transportation Finance Committee
Publisher:
ISBN:
Category : Transportation and state
Languages : en
Pages : 59

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Author: Massachusetts Transportation Finance Commission
Publisher:
ISBN:
Category : Transportation
Languages : en
Pages : 39

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Author: Gregory K. Ingram
Publisher: Lincoln Inst of Land Policy
ISBN: 9781558442276
Category : Business & Economics
Languages : en
Pages : 465

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"Attention to value capture as a source of public revenue has been increasing in the United States and internationally as some governments experience declines in revenue from traditional sources and others face rapid urban population growth and require large investments in public infrastructure. Privately funded improvements by land-owners can increase the value of their land and property. Public actions, such as investments in infrastructure, the provision of public services, and planning and land use regulation, can also affect the value of land and property. Value capture is a means to realize as public revenue some portion of that increase in value through various revenue-raising instruments. This book, based on the Lincoln Institute of Land Policy's sixth annual land policy conference in May 2011, examines the concept of value capture, its forms, and applications. The first section, on the conceptual framework and history of value capture, reviews its relationship to compensation for partial takings; the long history of value capture policies in Britain and France; and the remarkable expansion of tax increment financing in California. The second section reviews the application of particular instruments of value capture, including the conversion of rural to urban land in China, town planning schemes in India, and community benefit agreements. The third section focuses on ends instead of means and examines the use of value capture by community land trusts to provide affordable housing, the use of land development to finance transit, and the use of various fees to fund airports. The final section explores potential extensions of value capture mechanisms to tax-exempt nonprofits and to the management of state trust lands in the United States."--Publisher's website.

Author: Massachusetts Transportation Finance Commission
Publisher:
ISBN:
Category : Transportation
Languages : en
Pages : 66

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U+2026.the CommissionU+2019s purpose is “1. To analyze the stateU+2019s long-term capital and operating needs for the transportation system, the funds expected to be available, and to estimate the extent to which a gap exists; and 2. To make recommendations to close this funding gap through potential cost savings, efficiencies, and additional revenue.”; “The Transportation Finance Commission reviewed the most recent actions and decisions of the transportation agencies, spending trends over the past 20 years, and plans for the next 20 years.”; sections include: The Shape of the Transportation Finance Problem in Massachusetts // The Massachusetts Bay Transportation Authority (MBTA) Has a Critical and Growing Structural Funding Gap // MassHighway Has Adopted Unsustainable Business Practices to Compensate for Inadequate Financial Resources // The Massachusetts Turnpike Authority Operates at a Deficit // The Condition of Our Roads, Bridges, and Transit Systems Are All in Broad Decline” // Distribution of FHWA Funding to Massachusetts // Dimensions of the Transportation Funding Gap // Roads and Bridges // Estimated Annual Cost to Operate and Maintain the Western Turnpike, Excluding Toll Collection // Massachusetts Port Authority U+2013 Tobin Bridge // Regional Transit Authorities // Summary of Needs, Funds Available, and Funding Gap for MassHighway Roadway Preservation, 2007-2026, and many moreU+2026.

Author:
Publisher:
ISBN:
Category : Local transit
Languages : en
Pages : 106

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Author: Martim Oscar Smolka
Publisher: Lincoln Inst of Land Policy
ISBN: 9781558442849
Category : Business & Economics
Languages : en
Pages : 68

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The report examines a variety of specific instruments and applications in municipalities throughout the region under three categories: property taxation and betterment contributions; exactions and other direct negotiations for charges for building rights or the transfer of development rights; and large-scale approaches such as development of public land through privatization or acquisition, land readjustment, and public auctions of bonds for purchasing building rights. It concludes with a summary of lessons learned and recommends steps that can be taken in three spheres: Learn from Implementation Experiences Increase Knowledge about Theory and Practice Promote Greater Public Understanding and Participation

Author: Massachusetts Bay Transportation Authority
Publisher:
ISBN:
Category : Local transit
Languages : en
Pages : 29

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Author: Mike Iacono
Publisher:
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Category :
Languages : en
Pages : 0

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As vehicles become more fuel-efficient and overall levels of travel stagnate in response to increases in fuel prices, conventional sources of revenue for transportation finance such as taxes on motor fuels have been put under increasing pressure. One potential replacement as a source of revenue is a set of policies collectively referred to as value capture policies. In contrast to fuel taxes and other instruments that impose charges on users of transportation networks, value capture policies seek 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 a set of eight policies that contain elements of the value capture approach. These policies include land value taxes, tax increment financing, 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: efficiency, equity, sustainability (in terms of revenue adequacy and stability), and feasibility. The value capture concept is placed within a more general framework of transportation finance that emphasizes the relationship between different types of charges and groups of beneficiaries from transportation investments.

Author: David M. Levinson
Publisher:
ISBN:
Category : Real property
Languages : en
Pages : 20

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