Land value Capture: 1. What is Land value capture? (1/2-1 page) · It is not a new concept o Canadian Pacific Railway was partly financed by giving rights for a 48-mile wide corridor along the route to the promoters of the highway (Metrolinx source) -Using Land Value Capture to Fund Transportation investments
· when people perceive value, they are willing to pay for it
· part of the problem is that the current system is unable to easily release and subsequently capture this added value https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Public-Sector/smart-cities-virtues-of-value-capture-19nov.pdf
2. Emerging Tools – Strategies – Explain what they are and how they can be used to fund transportation projects (2-3 pages) https://www.lincolninst.edu/sites/default/files/pubfiles/land-value-capture-policy-brief.pdf https://www.lincolninst.edu/sites/default/files/pubfiles/1279_Smolka%20Final.pdf -Taxes -Fees -Land Value enhancement -Profit sharing linked with the project -Regulatory Instruments – Special Assessment Districts – Section 37 (Ontario Planning Act) https://www.toronto.ca/city-government/planning-development/official-plan-guidelines/section-37-benefits/
3. Case Study – How were the above strategies used in these 2 projects (3-4 pages) i) Metro Vancouver https://www.translink.ca/-/media/Documents/plans_and_projects/regional_transportation_strategy/Research/Land-Value-Capture-for-Funding-Regional-Transportation-Summary-Report.pdf ii) Metrolinx – Toronto http://hlrn.org/img/documents/Land_Value_Capture_Discussion_Paper_EN.pdf. Get Case Study Help.