Transit Value Capture Coordination: Case Studies, Best Practices, and Recommendations (Urban Transportation Center at the University of Illinois at Chicago, 2015)

Nearby public transportation boosts property values, and increasingly cities are asking developers to help fund transit improvements that will benefit their projects, according to a report by the Urban Transportation Center at the University of Illinois at Chicago. The most successful “value-capture” policies — by which government agencies recover infrastructure costs through special taxes or voluntary payments from developers — result from bringing developers and taxing bodies together during the earliest stages of transportation planning, the researchers found. The research team examined various value-capture methods used in four cities operating some of the largest and oldest transit systems in the nation, with the greatest backlogs of unfunded capital needs.

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