[sustran] Re: Formulas for value capture in transport

[Todd Alexander Litman]

The following report summarizes the literature on value capture, 
including discussion of implementation mechanisms. Although it mainly 
deals with capturing the value of transit projects, there are some 
references to the impacts that highway proximity has on property values.

"Financing Transit Systems Through Value Capture: An Annotated 
Bibliography" (http://www.vtpi.org/smith.pdf ).


Best wishes,
-Todd Litman

At 03:51 AM 12/7/2007, Jonathan Richmond wrote:

>Firstly, thanks to the many people who have given me great feedback on my
>earlier questions! I find myself learning a great deal as I find myself
>faced with having to take practical steps which may be different from
>those suggested by academic theories!
>
>We are building a new highway and have decided we wish developers to share
>the costs. Right now, we are having some developer discussions, but
>urgently need to formalize them by the use of a formula which reflects the
>value developers will receive from the presence of the highway, and asks
>them to pay for it.
>
>I would much appreciate hearing of formulas in use throughout the world,
>and how well they have worked out in practice. My first thought is to
>assess the likely trip attraction/generation associated with each
>developer's activities. Then estimate likely total atttraction/generation
>associated with all new developments related to the highway and compare
>this to the total volume of usage expected on the highway (which includes
>trips by people not gaining access to the development). Then charge
>developers that fraction of highway construction costs which relates to
>their predicted share of vehicle movements.
>
>But there are other approaches I can think of, including using as basis
>the the value of increased business the developers get as a result of the
>highway...
>
>Any ideas would be much appreciated, bearing in mind that we need
>something we can use quickly and which can be shown to be fair to
>developers (who have some political clout) and to the public as a whole!
>
>Many thanks!
>
>                                               --Jonathan!
>-----
>Jonathan Richmond
>Transport Adviser to the Government of Mauritius
>Ministry of Public Infrastructure, Land Transport and Shipping
>Level 4
>New Government Centre
>Port Louis
>Mauritius
>
>+230 707-1134 (Mauritius mobile: most reliable way to reach me at
>all times)
>
>+1 (617) 395-4360 (US phone number rings at home -- call me in
>Mauritius for the price of a call to the US).
>
>+1 (425) 998-0998 (US phone number, connects to mobile phone when in
>wifi zone, or goes to voice mail)
>
>+44 (0)7978 807532 (UK mobile number, connects to mobile phone when in
>wifi zone, or goes to voice mail). This is also a SIP number. If you
>have a SIP phone you can reach me by dialing: sip:447978807532 at truphone.com
>
> >From Google Talk you can add me as a contact by clicking add and
>then entering ext+447978807532 at truphone.com. Clicking on this address
>will then ring my mobile phone when I am in a wifi zone, or go to voice
>mail at other times.
>
>e-mail: richmond at alum.mit.edu
>http://the-tech.mit.edu/~richmond/
>
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Sincerely,
Todd Alexander Litman
Victoria Transport Policy Institute (www.vtpi.org)
litman at vtpi.org
Phone & Fax 250-360-1560
1250 Rudlin Street, Victoria, BC, V8V 3R7, CANADA
"Efficiency - Equity - Clarity"