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This book reviews four major Value Capture mechanisms all of which are used to fund transit in the US. Through the study of prominent examples of these VC mechanisms, it evaluates each mechanism's performance focusing on aspects such as equity, revenue-generating potential, the institutional capacity required to design and implement the mechanisms, stakeholder support for these mechanisms, and the legal and policy environment. Although the book focuses on the US, the use of the VC mechanisms and the urgent need for additional revenue to fund public transportation are world-wide concerns. There
Transport. Traffic --- Local transit --- Urban transportation --- Real property --- Impact fees --- Development exactions --- Development fees --- Fees, Development --- Fees, Impact --- Land development exactions --- Real estate exactions --- Fees, Administrative --- Land valuation --- Real estate appraisal --- Valuation of land --- City transportation --- Metropolitan transportation --- Municipal transportation --- Transportation, Urban --- City planning --- Transportation --- Urban policy --- Finance --- Valuation --- E-books --- Impact fees. --- Local transit -- United States -- Finance. --- Real property -- Valuation. --- Urban transportation -- United States -- Finance. --- Business & Economics --- Transportation Economics
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The book uses the two key findings of the extant literature-the need to empower urban local governments and to employ a variety of local revenue sources-to advance the field of local government finance by studying an important fee-based revenue source - development charges. It begins by situating development charges in the larger ecosystem of local public finance and identifying factors to be considered while designing and implementing a development charge program. Next, it reviews the use of development charges globally, especially in Australia, South Africa, and the US. After that, through a comparative analysis of development charge programs in India and the US, and simulations, the book shows how development charges are inadequate for urban India's and the Global South's infrastructure needs. Finally, it suggests ways to levy development charges that are legally sound, transparent, equitable, and politically and administratively feasible while providing a robust revenue stream.
Special assessments. --- Special assessments --- Urban policy
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Environmental planning --- space planning --- urbanization --- India
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