Guidebook to Funding Transportation Through Land Value Return and Recycling (2018) / Chapter Skim
Currently Skimming:
Pages 80-100
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 80... ...
B-1 Appendix B provides additional information about each case example that appears in the Guidebook, including references for readers interested in additional details. Each case example is identified by the land value return and recycling method it illustrates and the name and location of the project.
|
From page 81... ...
B-2 Guidebook to Funding Transportation Through Land Value Return and Recycling Case Example 20: Joint Development (Washington Metropolitan Area Transit Authority, Washington, D.C.) Case Example 21: Special Assessment Debt Financing (Silver Line Metrorail Extension, Washington Metropolitan Area Transit Authority, Fairfax and Loudoun Counties, Virginia)
|
From page 82... ...
Summary of Case Examples B-3 Case Example 6: Joint Development and Air Rights Lease (Copley Place Development over the Massachusetts Turnpike, Boston, Massachusetts) .........................................................................................B-10 Case Example 20: Joint Development (Washington Metropolitan Area Transit Authority, Washington, D.C.)
|
From page 83... ...
B-4 Guidebook to Funding Transportation Through Land Value Return and Recycling Case Example Summaries Land Value Return and Recycling Methods Land Value Tax or Split Rate Tax Case example 1: Split Rate Tax Project: General-purpose infrastructure and other governmental services Location: Pittsburgh Metropolitan Area Summary • By taxing buildings at a fraction (one-half to one-sixteenth) of the land value rate from 1913 to 2000, Pittsburgh was able to attract steel manufacturers and other businesses, which allowed the city to overcome budget shortfalls, outpace suburban development, and stave off the worse effects of national economic crises.
|
From page 84... ...
Summary of Case Examples B-5 • Levy distribution takes into account the type of land use, density, degree of benefit allocated to each parcel, and the payment capacity of the property owners; per Colombian law, the levy cannot exceed property construction costs. • Project benefits are evaluated within an area of influence based on reduction in travel time, lower operating costs, higher quality of life, changes in land use, economic development, higher property values, integration into the urban structure of the city, optimized circulation and mobility, and recovery of deteriorated or depressed areas.
|
From page 85... ...
B-6 Guidebook to Funding Transportation Through Land Value Return and Recycling https://www.london.gov.uk/sites/default/files/crossrail_funding_spg_updated_march_ 2016v2.pdf.
|
From page 86... ...
Summary of Case Examples B-7 • A majority of electors and owners ultimately filed a blocking petition over concerns about an inequitable share of project costs and benefits across the special service area. Sources • Attorneys' Title Guarantee Fund.
|
From page 87... ...
B-8 Guidebook to Funding Transportation Through Land Value Return and Recycling • Reconnecting America's Center for Transit-Oriented Development. Capturing the Value of Transit.
|
From page 88... ...
Summary of Case Examples B-9 • A 175.24-acre special assessment district was set up to fund the project and encourage more hotel and casino activity and other dense commercial land use. Sources • Center for Innovative Finance Support.
|
From page 89... ...
B-10 Guidebook to Funding Transportation Through Land Value Return and Recycling Case example 17: Special Assessment District Project: Potomac Yard Metrorail Station, Washington Metropolitan Area Transit Authority Location: Alexandria, Virginia Summary • Infill Metrorail station planned for Potomac Yard development. • Developer contributions; revenues from two special assessment districts; regional, state, and federal grants; and net new tax revenues from development in the area will fund the station.
|
From page 90... ...
Summary of Case Examples B-11 • Through a 99-year lease of an air rights parcel over the turnpike, the Copley Place mixeduse development ($500 million, 9.5 acres) generated new revenue for the city.
|
From page 91... ...
B-12 Guidebook to Funding Transportation Through Land Value Return and Recycling principles including: reducing automobile dependency, increasing pedestrian/bicycle- originated transit trips, fostering safe station areas, enhancing surrounding area connections to transit stations, including bus access, promoting mixed-use development with housing, offering the opportunity to obtain goods and services and enjoy active public spaces near transit stations, attracting new riders to the transit system, creating ongoing sources of revenue for WMATA's long-term financial sustainability, and assisting local jurisdictions in achieving their goals for economic development. Sources • Joint Development Policies and Guidelines: FY2018 Proposed Budget.
|
From page 92... ...
Summary of Case Examples B-13 • Kamin, B Ohio Highway Cap at Forefront of Urban Design Trend: Retail Complex Atop Columbus Expressway Offers Model for Chicago.
|
From page 93... ...
B-14 Guidebook to Funding Transportation Through Land Value Return and Recycling • This strategy helps pay for railway station development; in total, the model and other land-related revenues accounted for 79 percent of infrastructure investments. Sources • Cervero, R., and J
|
From page 94... ...
Summary of Case Examples B-15 customers charged to maintain arterial roads, both share the maintenance costs for collector streets. • Land use trip rates were developed by using the Institute of Transportation Engineers' Trip Generation Report.
|
From page 95... ...
B-16 Guidebook to Funding Transportation Through Land Value Return and Recycling Reinvestment Zones: Texas Legislative History and Implementation. Final Report PRC 15-36F.
|
From page 96... ...
Summary of Case Examples B-17 • Denver Union Station Project Authority. Plan of Finance Prepared for Federal Highway Administration.
|
From page 97... ...
B-18 Guidebook to Funding Transportation Through Land Value Return and Recycling • Each development in Portland pays a onetime TSDC based on the expected number of vehicle- and person-trips generated, as determined by the Portland Bureau of Transportation. • The pool of TSDC funds is expected to cover approximately 25% of growth-oriented, multimodal transportation improvement projects over the next 10 to 20 years.
|
From page 98... ...
Summary of Case Examples B-19 Case example 17: Special Assessment District Project: Potomac Yard Metrorail Station, Washington Metropolitan Area Transit Authority Location: Alexandria, Virginia See summary in the section on case examples of special assessment districts. Exaction or Proffer Case example 11: Proffer Project: Specific infrastructure needs Location: Loudoun County and City of Chesapeake, Virginia Summary • In 2016, the Virginia General Assembly adopted new legislation that would prohibit localities from requesting or accepting any "unreasonable" proffer from residential rezonings.
|
From page 99... ...
B-20 Guidebook to Funding Transportation Through Land Value Return and Recycling • Virginia Department of Housing and Community Development. Report on Proffered Cash Payments and Expenditures by Virginia's Counties, Cities, and Towns, 2015–2016.
|
From page 100... ...
Summary of Case Examples B-21 Case example 24: Integration of Land Value Return with Transportation and Land Use Planning Project: Southern California Association of Governments Location: Southern California Countries of Imperial, Los Angeles, Orange, Riverside, San Bernardino, and Ventura Summary • The Southern California Association of Governments' (SCAG's) Regional Transportation Plan (RTP)
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.