Lincoln Institute of Land Policy to Hold Major Conference on Using "Value Capture" to Finance Infrastructure and Redevelopment
Sixth Annual Land Policy Conference is May 22-24 in Cambridge, Mass.
CAMBRIDGE, Mass., May 18, 2011 /PRNewswire-USNewswire/ -- The use of value capture to finance local infrastructure, transportation projects, and urban redevelopment is the topic of the Lincoln Institute of Land Policy's 6th annual Land Policy Conference at the Charles Hotel in Cambridge May 22-24.
The concept of value capture is based on engaging the private sector to contribute to the cost of major infrastructure and related urban development projects in anticipation of the increase in property values around the projects.
The approach has been used in Latin America and Europe, and has recently received more attention in the United States as the federal, state, and local governments continue to struggle with severe fiscal strains.
Some similar instruments that have been used in the U.S., including Business Improvement Districts (BIDs). In that case, private owners pay for services like maintenance, in recognition that a clean street or well-run downtown park can have a positive impact on property values.
"Prospects For Land Value Capture," to be attended by more than 100 leading scholars, practitioners, and policymakers, will begin with a presentation by Richard Henderson, executive vice president at MassDevelopment and formerly director of planning and development at Massport, on the use of value capture in the development of the South Boston Waterfront, Sunday evening.
The keynote address will be delivered Monday, May 23 at 9:30 a.m. by Susan S. Fainstein, Professor at Harvard University, on the subject of "Value Capture and Justice."
"We hope to explore past and present experiences with the use of value capture, given its urgent relevance to today's tight fiscal conditions and pressing need to fund infrastructure investment and maintenance," said Gregory K. Ingram, President of the Lincoln Institute of Land Policy, who will open the conference with a welcome and introductory remarks.
New research and data analysis and a wide-ranging discussion will be featured on topics including:
-- The concept of "takings and givings" in the context of property rights
-- Realizing land value through public land leasing
-- Business and community improvement districts
-- Land pooling and land assembly, involving property owners in development
-- Inclusionary housing and community land trusts
-- Airport improvement fees and other transport infrastructure financing
-- Charging nonprofit institutions for public services
The Lincoln Institute of Land Policy is a leading resource for key issues concerning the use, regulation, and taxation of land. Providing high-quality education and research, the Institute strives to improve public dialogue and decisions about land policy.
SOURCE Lincoln Institute of Land Policy