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 through giving rights for a 48-mile wide corridor along the route to the promoters of the highway (metrolinx)
2. 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
Emerging Tools – Strategies – Explain what they are and how they can be used to fund transportation projects (2-3 pages)
-Land Value enhancement
-Profit sharing linked with the project
– Special Assessment Districts
– Section 37 (Ontario Planning Act) https://www.toronto.ca/city-government/planning-development/official-plan-guidelines/section-37-benefits/
Case Study – How were the above strategies used in these 2 projects (3-4 pages)
1) 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
2) Metrolinx – Toronto http://hlrn.org/img/documents/Land_Value_Capture_Discussion_Paper_EN.pdf
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