An evaluative framework for examining the use of land value capture to fund public transportation projects
Publication Date
July 2019
Document Type
Article
Publication Title
Land Use Policy
Volume
86
DOI
10.1016/j.landusepol.2019.05.021
First Page
357
Last Page
364
Abstract
The proposed study contributes to the land use policy literature by first reviewing the existing literature to identify a set of major success factors and challenges to the use of land value capture (LVC) to fund public transportation projects. Next, it reviews LVC tools used to fund the metro rail system in Delhi, India—Delhi Metro. Finally, it uses the success factors and challenges identified in the study to present a framework for evaluating whether, how, and how well LVC tools are being used to fund Delhi Metro. This paper finds that several intertwined factors, many related to land use planning and policy, limit the magnitude of LVC revenues. These factors include a lack of consistency between the plans of transit agencies and local governments, that has led to poor planning for transit-oriented development (TOD) inside and around station land; the inability of transit agencies to control land use and zoning for and around the station; and over-reliance on capturing value from new properties instead of from all properties that benefit from the metro system.
Keywords
Land value capture, TOD, LVC, Zoning, Land use, Metro rail, Public transportation
Recommended Citation
SHISHIR MATHUR. "An evaluative framework for examining the use of land value capture to fund public transportation projects" Land Use Policy (2019): 357-364. https://doi.org/10.1016/j.landusepol.2019.05.021
Comments
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