For cities, the doctor is in: a focus on municipal fiscal health
The future prospects for cities worldwide has a foundation in something that doesn't always get much talked about: municipal fiscal health. That was the message delivered by Lincoln Institute President George W. McCarthy in an appearance at the USC Price School of Public Policy earlier this month. The basic covenant of funding local government for services and infrastructure has gone awry, he said, saddling cities with debt and plummeting some, most famously Detroit, into bankruptcy. “We have to ... rebuild the understanding in the general population of the role of local government and why it is necessary and good to pay taxes, or otherwise the provision of public goods would not happen,” McCarthy said.
Conservation as Revenue Generator for State Trust Lands in the West
States are obligated to generate income from state trust lands, through mining, grazing, agriculture, or logging, but a new report published by the Lincoln Institute of Land Policy shows how conservation can be an equally robust revenue source. State trust land management agencies are poised to make better use of conservation mechanisms including conservation sales and leases through easements or outright fee-simple purchases, ecosystems services markets, and land tenure and exchange, according to the Policy Focus Report Conserving State Trust Lands: Strategies for the Intermountain West.
A Case-Shiller Index for China
The Peking University--Lincoln Institute Center for Urban Development and Land Policy and the Hang Lung Center for Real Estate at Tsinghua University recently launched a new initiative to better track the price of housing in rapidly urbanizing China. The China Quality-Controlled Urban Housing Price Indices, modeled after the Case-Shiller Housing Price Index, were announced late last year at a press conference in Beijing attended by media, researchers, and real estate professionals.
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