Another blog post from the folks at Strongtowns focuses on the political economy of transportation funding and demonstrates the organization's philosophical leaning toward value capture.
One last observation on the current approach: it has long astonished me that we culturally abhor the concept of value capture. When my hometown was bypassed, Mn/DOT made millionaires out of a number of people who had done nothing but have the good fortune to inherit land at key spots along the chosen corridor. Did we, in our desperate lack of funds, ask for even a tiny portion of that wealth back to pay for the improvements that created their good fortune? Of course not.
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.
Special thanks to Burt Gregory at Mithun for permission to use the Portland Streetcar image above.