Using the Economic Value Created by Transportation to Fund Transportation (2014) / Chapter Skim
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5 BACKGROUND, MOTIVATION, AND STUDY OBJECTIVES In recent years, smaller state and local budgets combined with growing transportation capital and maintenance costs have resulted in substantial shortages in transportation funding. With the growing realization that the cost of transportation will not be met sufficiently with existing funding mechanisms, new methods to aid the current system have been studied.
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6 • Availability of enough information to showcase and inform the planning practice on how the procedure or mechanism was implemented in its context, including any enabling legislation. • Mechanisms considered more recently, have some highlighting features, such as being used to advance longterm plan projects, showcase ways to deal with risk, or allow multimodal equity in service provision.
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7 taxes. The increased sales may lead to changes in land use and land values, and some methods may serve to capture the value of enhanced sales from transportation access as a general benefit.
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8 • Implementation and technical issues, such as (a) distinguishing land value increments attributed to specific public investments or planning decisions from other more general sources or factors that influence land markets; (b)
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9 • The way in which local partnerships facilitate the process. • The areas that benefit by using the mechanism.
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