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Value capture: Difference between revisions
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[[File:Everybody-works-but-the-vacant-lot.jpg|thumb|right|600px|Everybody-works-but-the-vacant-lot.jpg]] '''Value capture''' is a type of [https://en.wikipedia.org/wiki/Public_financing public financing] that recovers some or all of the value that [https://en.wikipedia.org/wiki/Public_infrastructure public infrastructure] such as transit generates for private landowners. The concept may also be applied more generally to methods of capturing the value gain that result from [[Upzoning|upzoning]] or any change in the environment that is not attributed to actions of the landowner -- this is also called [[Land_value_tax|Land value tax]].
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== Description ==
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== Application to proposed California legislation [[SB827|SB 827]], Transit Zoning Bill ==
Schweitzer, Lisa. "[https://lisaschweitzer.com/2018/02/09/what-id-fix-about-sb827-aka-that-white-paper-has-sooooooo-been-written-already/ What I’d fix about SB827, aka that white paper has sooooooo been written already]." 02/09/2018. <br/> [https://lisaschweitzer.com/2018/02/09/what-id-fix-about-sb827-aka-that-white-paper-has-sooooooo-been-written-already/. https://lisaschweitzer.com/2018/02/09/what-id-fix-about-sb827-aka-that-white-paper-has-sooooooo-been-written-already/. ]
<blockquote>'''''"Since we are with
on general idea of taxing land value, Schweitzer notes:
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David Paul Rosen (2011). "[http://www.draconsultants.com/pdf/CRA-CalALHFA_DR_Keynote_102511.pdf Out of the Wreckage: A New Agenda for Affordable Housing in California]." <br/> California Housing Conference: CRA/CalALHFA - Keynote Address). See slide 45 onward for value-capture proposal - proposed successor system to Redevelopment Agencies. <br/>
<blockquote>'''''[https://en.wikipedia.org/wiki/Value_capture OH BOY OH BOY IT’S GOT ITS OWN WIKIPEDIA PAGE!! ](A little light; David L, go fix it. )'''''</blockquote>
[https://en.wikipedia.org/wiki/Value_capture
'''"Value capture''' is a type of [https://en.wikipedia.org/wiki/Public_financing public financing] that recovers some or all of the value that [https://en.wikipedia.org/wiki/Public_infrastructure https://en.wikipedia.org/wiki/Public_infrastructure] public infrastructure
<blockquote>'''''[https://www.planetizen.com/news/2018/01/96983-value-capture-takes-prominent-controversial-role-fixing-new-york-subway New York City is eyeballing it.]'''''</blockquote>
Irvin Dawid. "[https://www.planetizen.com/news/2018/01/96983-value-capture-takes-prominent-controversial-role-fixing-new-york-subway Value Capture Takes Prominent but Controversial Role in Fixing New York Subway]." ''Planetizen, ''January 31, 2018.<br/> "Value capture, collecting tax increment from subway adjacent properties to help provide money needed to repair the 114-year old subway system, is proposed by New York Gov. Andrew Cuomo and opposed by the New York City Mayor Bill de Blasio."
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*American Public Transportation Association (2015). "<br/> [https://www.apta.com/resources/reportsandpublications/Documents/APTA-Value-Capture-2015.pdf Value Capture for Public Transportation Projects:] [https://www.apta.com/resources/reportsandpublications/Documents/APTA-Value-Capture-2015.pdf Examples]." August 2015. [https://www.apta.com/resources/reportsandpublications/Documents/APTA-Value-Capture-2015.pdf https://www.apta.com/resources/reportsandpublications/Documents/APTA-Value-Capture-2015.pdf].<br/>
*Center for Transit-Oriented Development. "[http://www.reconnectingamerica.org/resource-center/books-and-reports/2008/capturing-the-value-of-transit-3/ Capturing the Value of Transit]." November 19, 2008<br/> [http://www.reconnectingamerica.org/resource-center/books-and-reports/2008/capturing-the-value-of-transit-3/ http://www.reconnectingamerica.org/resource-center/books-and-reports/2008/capturing-the-value-of-transit-3/].<br/> The Center for TOD is a partnership of the national nonprofit Reconnecting America, the Center for Neighborhood Technology, and Strategic Economics, an urban economics firm in Berkeley, CA.<br/>
*Center for Transportation Studies, University of Minnesota. "[ttp://www.cts.umn.edu/research/featured/value-capture Value Capture for Transportation Finance]." 2008-2010. [http://www.cts.umn.edu/research/featured/value-capture http://www.cts.umn.edu/research/featured/value-capture].<br/>
*Dawid, Irvin. "[https://www.planetizen.com/news/2018/01/96983-value-capture-takes-prominent-controversial-role-fixing-new-york-subway Value Capture Takes Prominent but Controversial Role in Fixing New York Subway]." ''Planetizen, ''January 31, 2018.<br/>
▲Dawid, Irvin. "[https://www.planetizen.com/news/2018/01/96983-value-capture-takes-prominent-controversial-role-fixing-new-york-subway Value Capture Takes Prominent but Controversial Role in Fixing New York Subway]." ''Planetizen, ''January 31, 2018.<br/> "Value capture, collecting tax increment from subway adjacent properties to help provide money needed to repair the 114-year old subway system, is proposed by New York Gov. Andrew Cuomo and opposed by the New York City Mayor Bill de Blasio."<br/> [https://www.planetizen.com/news/2018/01/96983-value-capture-takes-prominent-controversial-role-fixing-new-york-subway. https://www.planetizen.com/news/2018/01/96983-value-capture-takes-prominent-controversial-role-fixing-new-york-subway. ]
*George, Henry. ''Progress and Poverty. ''1879. [http://www.econlib.org/library/YPDBooks/George/grgPPCover.html http://www.econlib.org/library/YPDBooks/George/grgPPCover.html].<br/>
*Goldman, Michael. "[https://www.theurbanist.org/2017/10/17/affordable-housing-platform-seattle/ An Affordable Housing Platform for Seattle]." ''The Urbanist, ''October 17, 2017.<br/> [https://www.theurbanist.org/2017/10/17/affordable-housing-platform-seattle/ https://www.theurbanist.org/2017/10/17/affordable-housing-platform-seattle/]<br/> ''"3. Capture land capital gains by charging a fee on development so that it scales with the value of the land. Then put those fees into non-profit housing development."''<br/>
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*Kaufman, Rachel. "[https://nextcity.org/daily/entry/new-california-funding-tool-eifd-financing-la-river-makeover New California Financing Twist Could Help L.A. River Makeover]." ''Next City. ''FEBRUARY 5, 2015.<br/> [https://nextcity.org/daily/entry/new-california-funding-tool-eifd-financing-la-river-makeover. https://nextcity.org/daily/entry/new-california-funding-tool-eifd-financing-la-river-makeover. ]<br/> on EIFDs (Enhanced Infrastructure Funding Districts).<br/>
*David M. Levinson and Emilia Istrate. "[https://www.brookings.edu/wp-content/uploads/2016/06/0428_transportation_funding_levinson_istrate.pdf Access for Value: Financing Transportation Through Land Value Capture]." ''Brookings, ''April 2011. <br/> [https://www.brookings.edu/wp-content/uploads/2016/06/0428_transportation_funding_levinson_istrate.pdf https://www.brookings.edu/wp-content/uploads/2016/06/0428_transportation_funding_levinson_istrate.pdf].<br/>
*Levinson, David. "[https://www.citylab.com/transportation/2014/06/how-to-make-mass-transit-financially-sustainable-once-and-for-all/372209/ How to Make Mass Transit Financially Sustainable Once and for All]." CityLab, JUN 5, 2014.<br/> [https://www.citylab.com/transportation/2014/06/how-to-make-mass-transit-financially-sustainable-once-and-for-all/372209/ https://www.citylab.com/transportation/2014/06/how-to-make-mass-transit-financially-sustainable-once-and-for-all/372209/].<br/>
*David Paul Rosen & Associates. "[http://www.draconsultants.com/aff-taxinc.html Tax Increment Financing]." web site, accessed 10 Feb 2018.
▲David Paul Rosen & Associates. "[http://www.draconsultants.com/aff-taxinc.html Tax Increment Financing]." web site, accessed 10 Feb 2018. <br/> [http://www.draconsultants.com/aff-taxinc.html http://www.draconsultants.com/aff-taxinc.html].
*Manville, Michael, Paavo Monkkonen, and Michael Lens (2017). "[http://www.latimes.com/opinion/op-ed/la-oe-manville-monkonnen-linkage-fee-20170719-story.html A better way to solve the housing crisis—tax land, not development]." ''LA Times, ''JUL 19, 2017. [http://www.latimes.com/opinion/op-ed/la-oe-manville-monkonnen-linkage-fee-20170719-story.html http://www.latimes.com/opinion/op-ed/la-oe-manville-monkonnen-linkage-fee-20170719-story.html].<br/>
*Misczynski, Dean J. (2012). "S[https://www.lincolninst.edu/sites/default/files/pubfiles/special-assessment-california_0.pdf pecial Assessments in California: 35 Years of Expansion and Restriction]." In [Ingram and Hong, 2012].<br/> [https://www.lincolninst.edu/sites/default/files/pubfiles/special-assessment-california_0.pdf. https://www.lincolninst.edu/sites/default/files/pubfiles/special-assessment-california_0.pdf. ]<br/>
*Rosen, David Paul (2011). "[http://www.draconsultants.com/pdf/CRA-CalALHFA_DR_Keynote_102511.pdf Out of the Wreckage: A New Agenda for Affordable Housing in California.]" <br/> California Housing Conference: CRA/CalALHFA - Keynote Address). <br/> [http://www.draconsultants.com/pdf/CRA-CalALHFA_DR_Keynote_102511.pdf http://www.draconsultants.com/pdf/CRA-CalALHFA_DR_Keynote_102511.pdf].<br/> See slide 45 onward for value-capture proposal - proposed successor system to Redevelopment Agencies. <br/> ▼
▲Rosen, David Paul (2011). "[http://www.draconsultants.com/pdf/CRA-CalALHFA_DR_Keynote_102511.pdf Out of the Wreckage: A New Agenda for Affordable Housing in California.]" <br/> California Housing Conference: CRA/CalALHFA - Keynote Address). <br/> [http://www.draconsultants.com/pdf/CRA-CalALHFA_DR_Keynote_102511.pdf http://www.draconsultants.com/pdf/CRA-CalALHFA_DR_Keynote_102511.pdf].<br/> See slide 45 onward for value-capture proposal - proposed successor system to Redevelopment Agencies.
*Schweitzer, Lisa. "[https://lisaschweitzer.com/2018/02/09/what-id-fix-about-sb827-aka-that-white-paper-has-sooooooo-been-written-already/ What I’d fix about SB827, aka that white paper has sooooooo been written already]." 02/09/2018. <br/> [https://lisaschweitzer.com/2018/02/09/what-id-fix-about-sb827-aka-that-white-paper-has-sooooooo-been-written-already/. https://lisaschweitzer.com/2018/02/09/what-id-fix-about-sb827-aka-that-white-paper-has-sooooooo-been-written-already/. ]<br/>
*Southern California Association of Governments. "Value Capture" [section on web site]. [http://iff.scag.ca.gov/Pages/ValueCapture.aspx http://iff.scag.ca.gov/Pages/ValueCapture.aspx]. Accessed 10 Feb 2018.<br/>
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*Wikipedia. "[https://en.wikipedia.org/wiki/Value_capture Value capture]." accessed 9 Feb 2018. [https://en.wikipedia.org/wiki/Value_capture. https://en.wikipedia.org/wiki/Value_capture. ]<br/>
*Zhao, Zhirong, Michael Iacono, AdeelLari, and David Levinson (2012). "[https://doi.org/10.1016/j.sbspro.2012.06.1023 Value Capture for Transportation Finance]." Procedia - Social and Behavioral Sciences, Volume 48, 2012, Pages 435-448. Open Access. <br/> [https://doi.org/10.1016/j.sbspro.2012.06.1023 https://doi.org/10.1016/j.sbspro.2012.06.1023].
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