July 24, 2014 12:00PM (EST)
Value Capture Coordination Best Practices and Case Studies for Transit Capital Projects
For the past several years, the presence of public transit has proven to have the potential to boost the value of some nearby properties, leading to more attractive opportunities for developers. Planners and policy makers have started to work with local governments to allocate a portion of the value gained by transit lines to funding system expansion and improvement. Called “value capture,” the process can be used to help fund new transit systems, expand existing ones and modernize stations and terminals. In this webinar, the UTC research team will discuss completed site visits to New York, Washington and San Francisco and plans to finalize case studies. Research included studying trends in communication, hiring, and project preparation among local governments and the private development sector to identify any best practices. A literature review and preliminary research showed that sound models for value capture coordination still need to be developed and the outcome of this project will be a report featuring recommendations for best practices for transportation agencies, taxing authorities, and private developers.
Presenter: Jordan Snow, Research Transportation Planner/Analyst, Urban Transportation Center at the University of Illinois at Chicago
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Approved: APA Event #27808
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