Transit Value Capture
  • About
  • Transit Value
  • Capture
Delivering Insights on Capturing the Value of Transit

Catching up on an old report: TCRP 190

6/21/2018

0 Comments

 
Picture
It's been a while since I've been on the blog, but a recent TCRP project proposal on joint development brought me back to my senses! In fact, I've been so busy working on a ton of value capture-related projects professionally that I have not had time to write about some great research that has come out in the last few years.

For one, TCRP's Report 190 covers a lot of great ground. Because there's nothing like a good story to help people understand complex topics, there are six interesting case studies in the report:

  1. Boston Landing at Allston/Brighton Station, Boston, MA
  2. Denver Union Station, Denver, CO
  3. Hong Kong Mass Transit Railway Corporation (MTRC), Hong Kong
  4. Kansas City Streetcar, Kansas City, MO
  5. Portland Streetcar, Portland, OR
  6. Dulles Metrorail, Washington, D.C., region

There are also some brief explanations of the usual suspects, including:
  • Impact fees
  • Joint development
  • Land value taxation
  • Negotiated exactions
  • Parking fees
  • Sale or leasing of air rights
  • Sales tax and special assessment districts
  • Station naming rights, and
  • Tax increment financing (TIF).

The most interesting parts for me were discussions on creditworthiness and institutional capacity. Seriously, we should talk about these more! For example, my clients are often very excited about a value capture mechanism and how it will help fund their particular project, but hardly ever appreciate the broader organizational factors related to bond issuance.

On the other hand, my clients are often very aware of their institution's limited capacity to pull off value capture efforts in general (that's one reason to hire a consultant!). This report does a great job of illustrating the difficulties faced by agencies. I'm not sure if it was intentional, but this gnarly graphic is worth 1,000 words! Look at the confused relationships, overlaps, informal dotted lines, and dollars going everywhere!

Picture
This report is a fun read for any value capture geek. Enjoy!
0 Comments



Leave a Reply.

    RSS Feed


    Author

    Ian Carlton is a transportation and land use expert specializing in transit-oriented development (TOD). He helps clients - including transit agencies, planning departments, and landowners - optimize real estate development around transit.

    View my profile on LinkedIn

    Archives

    March 2019
    February 2019
    July 2018
    June 2018
    October 2016
    July 2016
    June 2016
    May 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    May 2015
    March 2015
    January 2015
    December 2014
    November 2014
    October 2014
    July 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014


    Categories

    All
    Joint Development


    Special thanks to Burt Gregory at Mithun for permission to use the Portland Streetcar image above.
Picture
ABOUT
TRANSIT VALUE
CAPTURE
Copyright 2008-2020. Ian Carlton. All Rights Reserved.
Photo used under Creative Commons from permanently scatterbrained
  • About
  • Transit Value
  • Capture