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• Major success factors and challenges to the use of land value capture to fund public transportation projects are identified. • Land Value Capture tools used to fund the metro rail system in Delhi, India—Delhi Metro—are reviewed. • A framework is presented to evaluate whether, how, and how well land value capture (LVC) tools are funding Delhi Metro. • Several intertwined factors, many related to land use planning and policy, limit magnitude of land value capture revenues. The proposed study contributes to the land use policy literature by first reviewing the existing literature to identify a set of major success factors and challenges to the use of land value capture (LVC) to fund public transportation projects. Next, it reviews LVC tools used to fund the metro rail system in Delhi, India—Delhi Metro. Finally, it uses the success factors and challenges identified in the study to present a framework for evaluating whether, how, and how well LVC tools are being used to fund Delhi Metro. This paper finds that several intertwined factors, many related to land use planning and policy, limit the magnitude of LVC revenues. These factors include a lack of consistency between the plans of transit agencies and local governments, that has led to poor planning for transit-oriented development (TOD) inside and around station land; the inability of transit agencies to control land use and zoning for and around the station; and over-reliance on capturing value from new properties instead of from all properties that benefit from the metro system. [ABSTRACT FROM AUTHOR]

Through a review of three public transport projects developed across the United States using tax increment financing (TIF) revenues, this article examines the robustness of state- and local-level enabling statutes and the strategies used to minimize TIF’s horizontal and vertical inequities. The article finds that although TIF is widely used to fund transit-related facilities, such as rail lines and train stations, it is not used to purchase or maintain the rolling stock (e.g., train cars and buses). Furthermore, the use of TIF revenues for public transport enhances vertical equity to the extent that public transit users are likely to have lower incomes than auto users. However, in all case study projects, TIF primarily helped develop rail projects, not bus systems, with the latter more likely to be used by lower income people. Finally, setting aside TIF funds for affordable housing, job training, and relocation and rehabilitation can help reduce vertical inequities. [ABSTRACT FROM AUTHOR]

Little scholarly attention has been paid to the equity impacts of special assessment districts (SADs) established to fund public transportation projects. This article uses three recent public transportation projects funded using SADs in the United States and finds that the case study SADs’ performance is mixed. Although the districts use a variety of criteria, such as property value, parcel area, and distance from the transportation project, to calculate assessments in a way that promotes horizontal equity, the assessment methodologies do not take into account the disamenity associated with certain elements of public transportation projects, such as the rail line. Furthermore, owner-occupied residential properties are often exempt from paying assessments to garner support for SADs, rather than to satisfy equity concerns. Finally, the low-interest, long-term payment of assessments enhances vertical equity which can be further enhanced if assessment exemptions or deferments are consistently provided to seniors on fixed incomes and low-income households. [ABSTRACT FROM PUBLISHER]

Abstract: This paper examines joint development projects' ability to generate revenue for transit agencies. Using interviews, and primary and secondary text, the paper studies five joint development projects nation-wide and finds that revenue yield and stability from joint development projects vary widely. The paper argues that joint development projects benefit from supportive land use and zoning, and clear policy objectives and political direction. Finally, inflation-adjusted minimum guaranteed revenues and gross revenue sharing help enhance revenue yield and stability. [Copyright &y& Elsevier]

• This study provides evidence on the impact of a heavy-rail-based transit station on house prices. • Dataset includes characteristics of single-family houses sold during January 2000–April 2018 period. • Houses are located within eight kilometers of Warm Springs station of the San Francisco Bay Area Rapid Transit system. • The station increased house prices across the entire price spectrum. • The price increase began more than ten years before the rail service commenced. This study provides evidence on the impact of a heavy-rail-based transit station on house prices by employing quantile regression method on a dataset that inventories sales transactions of single-family houses during the January 2000–April 2018 period, and within eight kilometers (five miles) of the Warm Springs station of the San Francisco Bay Area Rapid Transit system. The station is located in Fremont, CA. The results show that a) the station increased house prices across the entire price spectrum, and b) the price increase began more than ten years before the rail service commenced. On a larger note, this study should strengthen efforts to a) provide or extend heavy-rail-based rapid transit systems in areas of high need and b) explore the use of value capture tools to fund transit. [ABSTRACT FROM AUTHOR]