Financing Transit-Oriented Development with Land Values : Adapting Land Value Capture in Developing Countries.

Front Cover -- Title Page -- Copyright Page -- Contents -- Acknowledgments -- About the Authors -- Abbreviations -- Glossary -- Message to City Leaders -- Overview -- Car-Dependent Urban Development in the Developing World -- Development-Based Land Value Capture as a Strategic Apparatus for Transit Financing and Urban Planning -- Global Good Practices for Development-Based LVC -- Critical Factors for Success in Developing Countries -- Challenges and Risks -- Roadmap for Development-Based LVC Implementation through a Gradual Approach -- What International Development Financial Institutions Can Do -- Conclusion -- References -- Part I Introduction -- 1 Development-Based Land Value Capture for Financing Transit-Oriented Development -- Car-Dependent Urban Development in the Developing World -- Development-Based LVC as a Strategic Financing and Planning Apparatus for Transit and TOD-Related Investments -- Objectives, Methods, and Readership -- Development Finance Context -- Structure of the Book -- Notes -- References -- 2 Theory of Land Value Capture and Its Instruments -- Rationale for Land Value Capture (LVC) -- Transit-Induced Land Capitalization -- Situating LVC in Urban Transport Finance -- Types of LVC Instruments -- Conclusion -- Notes -- References -- Part II Lessons Learned from Global Development-Based Land Value Capture Practices -- 3 Rail Plus Property Program, Hong Kong SAR, China -- Urban Development Context -- Regulatory and Institutional Framework -- Land Value Capture (LVC) -- Development Cases -- Debate over Land Value Capture and Housing Affordability -- Conclusion -- Note -- References -- 4 Inclusive Land Value Capture Schemes, Integrating and Regenerating the World's Largest Metropolis: Tokyo, Japan -- Urban Development Context -- Regulatory and Institutional Framework -- LVC -- Four Development Cases -- Conclusion -- Note.

References -- 5 Development-Based LVC Practices in North America and Europe: New York City and Washington, DC, United States -- and London, United Kingdom -- Context: The United States -- New York City: Evolution of Transfer of Development Rights in Manhattan -- Washington, DC: WMATA's Entrepreneurial Joint Development Program -- Context: Europe -- London: Regeneration of King's Cross Lands -- Conclusion -- Notes -- References -- Part III Emerging Development-Based Land Value Capture Practices In Developing Countries -- 6 Financing a Metro with Development Rights of Public Land, Nanchang, China -- Urban Development Context -- Metro Project -- Regulatory and Institutional Frameworks -- Nanchang Municipal Finance -- Development Cases -- Conclusion -- Notes -- References -- 7 A Tale of Two Metro Cities: Delhi and Hyderabad, India -- Urban Development Context, Delhi -- Regulatory and Institutional Framework, Delhi -- Land Value Capture, Delhi -- Development Cases, Delhi -- Urban Development Context, Hyderabad -- Regulatory and Institutional Framework, Hyderabad -- Land Value Capture, Hyderabad -- Conclusion -- References -- 8 Air Rights Sales, São Paulo, Brazil -- Urban Development Context: Population and Urbanization Trends -- Regulatory and Institutional Framework -- Land Value Capture -- Conclusion -- References -- Index -- Back Cover.

Cities in developing countries are experiencing unprecedented urban growth. Unfortunately, this is often accompanied by the negative impacts of sprawl as a result of rapid motorization such as congestion, air pollution, greenhouse gas emissions, inefficient use of energy and time, and unequal accessibility. As these cities are often under severe fiscal constraints, they face great challenges in financing capital-intensive mass transit systems to reverse the course of these negative trends. Development-based land value capture (DBLVC) financing schemes being practiced in Asian megacities like Hong Kong SAR, China, and Tokyo have helped them not only to generate funds for transit investment and operational and maintenance costs but also to promote sustainable urban development through transit-oriented development (TOD). Many rapidly growing cities in developing countries have the conditions for introducing DBLVC " namely, strong economic growth, rising real incomes and increased motorization and congestion levels " all of which cause land value appreciation within proximity of transit stations or corridors. If adapted well to local contexts, DBLVC schemes have great potential to become an important strategic apparatus of urban finance and planning for cities in developing countries. Through a careful analysis of various case studies, this book provides strategies, policies, and methodologies that policy makers and practitioners can apply in developing their own DBLVC schemes for transit financing.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.