Using the Economic Value Created by Transportation to Fund Transportation (2014) / Chapter Skim
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SUMMARY Transportation agencies today face increasing challenges. Demands on the transportation system capacity continue to increase while public revenues dedicated to developing and maintaining that system are decreasing.
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2 Value capture can, for example, help agencies assess project expansion benefits for justifying cost-recovery methods or identifying opportunities for private-sector participation in a construction project. To help practitioners better understand the context and uses for different kinds of VC mechanisms, this report uses case examples to discuss the implementation aspects, challenges, and benefits involved in adopting each of the 10 mechanisms, which are listed here.
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3 This synthesis groups VC mechanisms by scale of application (e.g., at the site/project level, corridor level, or county/city/regional level) and by whether or not they are applied as part of project-based funding or on a programmatic basis.
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4 Still, after multiple mechanisms' applications by all levels of agencies were studied, some common findings became evident: • The need for a legal framework (which might require political will to implement) supporting the VC mechanism chosen.
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