Value capture: Difference between revisions

== Application to proposed California legislation [[SB827|SB 827]], Transit Zoning Bill  ==

<blockquote>'''''"Since we are with BS827[[SB827]] setting up special districts around transit stations anyway, we should set up them up special assessment districts, use the transit-value and up-zone value in land appreciation to derive revenues to put into a fund for: a) rental vouchers; b) school districts with new student need from the new developments and c) transit operations and support." &nbsp;'''''</blockquote>

[https://en.wikipedia.org/wiki/Value_capture [1]https://en.wikipedia.org/wiki/Value_capture].

'''"Value capture'''&nbsp;is a type of&nbsp;[https://en.wikipedia.org/wiki/Public_financing public financing]&nbsp;that recovers some or all of the value that&nbsp; [https://en.wikipedia.org/wiki/Public_infrastructure https://en.wikipedia.org/wiki/Public_infrastructure] public infrastructure] &nbsp;generates for private landowners.<br/> <br/> Public investments, such as building transportation or sewer facilities, can increase adjacent land values, generating an unearned profit for private landowners. The unearned value (increases in land value which otherwise profit private landowners cost-free) may be "captured" directly by converting them into public revenue (see [https://en.wikipedia.org/wiki/Georgism Georgism]). Thus, value capture internalizes the positive&nbsp;[https://en.wikipedia.org/wiki/Externalities externalities]&nbsp;of public investments, allowing public agencies to tax the direct beneficiaries of their investments.<br/> &nbsp;

*Center for Transportation Studies, University of Minnesota. "[ttp://www.cts.umn.edu/research/featured/value-capture Value Capture for Transportation Finance]." 2008-2010.&nbsp;[http://www.cts.umn.edu/research/featured/value-capture http://www.cts.umn.edu/research/featured/value-capture].<br/> &nbsp;

*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/> &nbsp;

*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.&nbsp;]<br/> &nbsp;