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Pages 8-12

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From page 8...
... Value capture is the public recovery of a portion of increased property value created as a result of public infrastructure investment. Common value capture mechanisms are impact fees, joint development, sale or leasing of air rights, land value taxation, station naming rights, negotiated exactions, parking fees, sales tax and special assessment districts (SADs)
From page 9...
... Transit agencies increasingly look to value capture, among a number of innovative funding and finance options, to facilitate new infrastructure projects. Even Hong Kong's Mass Transit Railway Corporation, serving very high ridership through densely populated urban neighborhoods, requires real estate–related non-fare revenues to fund its services.
From page 10...
... 1.4 Methodology and Approach This guide has been developed to answer the following research questions: • What are the key issues that transit agencies must address to maximize transit-induced opportunity for value creation, and • What are the key issues that transit agencies must address to leverage value capture mechanisms to fund and finance transportation infrastructure improvements? The analytical framework for this guide is based on an exploration of research questions supplementary to the key questions, as identified in Table 1.
From page 11...
... Elements of a business case for value capture. Case Study City Project Type Value Capture Mechanisms Used Boston Landing at Allston/Brighton Station Boston, MA New infill station for commuter rail line Negotiated exactions Denver Union Station Denver, CO Reconstruction of historic station, with light rail terminal, commuter rail terminal, and bus terminal Special assessment district, sales tax district, tax increment financing Hong Kong Mass Transit Railway Corporation (MTRC)
From page 12...
... Readers interested in streetcar examples should read the Kansas City and Portland case studies. Readers focused on station development should read the Denver Union Station, Hong Kong Mass Transit Railway Corporation (MTRC)


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