For Immediate Release
Contact: Anthony Flint 617-503-2116
CAMBRIDGE, Mass. (May 13, 2011) – 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 full agenda is below:
CONCEPTUAL FRAMEWORKS OF LAND VALUE CAPTURE. Chair: Rodrigo Botero, Former Minister of Finance, Colombia
Perry Shapiro, University of California, Santa Barbara will present Takings and Givings: The Analytics of Land Value Capture and its Symmetries with Taking Compensation. Discussant: Henry E. Smith, Harvard University.
Philip A. Booth, University of Sheffield, will present The Unearned Increment: Property and the Capture of Betterment Value in Britain and France. Discussant: Louis G. H. Albrechts, University of Leuven
THE EVOLUTION OF LONG-STANDING STATE-LEVEL INSTRUMENTS Chair: Henry A. Coleman, Rutgers University
Lawrence C. Walters, Brigham Young University, will present To What Extent are Property Related Taxes Effective Value Capture Instruments? Discussant: Jay K. Rosengard, Harvard University
John E. Anderson, University of Nebraska, will present Collecting Land Value Through Public Land Leasing. Discussant: Guanzhong James Wen, Trinity College
THE EVOLUTION OF CITY-LEVEL INSTRUMENTS. Chair: William W. Goldsmith, Cornell University
Dean J. Misczynski, Public Policy Institute of California will present From City-wide Special Assessments to Localized Business and Community Improvement Districts. Discussant: Carol E. Heim, University of Massachusetts, Amherst
COMMUNITY BARGAINING FOR LAND VALUE CAPTURE Chair: Lynne M. Pepall, Tufts University
Michael I. Luger, University of Manchester, will present Expanding Town and Gown Partnerships to Research Parks. Discussant: Weiping Wu, Tufts University
Laura Wolf-Powers, University of Pennsylvania, will present Community Benefits Agreements in a Value Capture Context. Discussant: Julian A. Gross, Community Benefits Law Center
LAND CONTRIBUTIONS TO LOCAL PUBLIC GOODS DEVELOPMENT. Chair: Richard B. Peiser, Harvard University
Bishwapriya Sanyal, Massachusetts Institute of Technology, will present Land Pooling: Town Planning Schemes in Gujarat, India. Discussant: Bipasha Baruah, California State University, Long Beach
Susan M. Wachter and Richard P. Voith, University of Pennsylvania, will present Assessing the Durability of Inclusionary Housing and Community Land Trusts. Discussant: Rachel G. Bratt, Tufts University
CAPTURING LAND VALUE FOR PUBLIC TRANSPORT INFRASTRUCTURE INVESTMENTS Chair: Don H. Pickrell, Volpe National Transportation Systems Center
Jin Murakami, University of California, Berkeley, will present Transit Value Capture: New Town Co-development Models and Contemporary Market Profiles in Tokyo and Hong Kong. Discussant: Zhirong Jerry Zhao, University of Minnesota
Anming Zhang, University of British Columbia, will present Airport Improvement Fees, Benefit Spillovers and Land Value Capture Mechanisms. Discussant: Jeffrey P. Cohen, University of Hartford
EXTENDING THE APPLICATION TO STATE AND NON-PROFIT SECTOR Chair: George R. Parsons, University of Delaware
Joseph J. Cordes, George Washington University, will present What Are The Arguments for Taxing Charitable Non-Profit Entities for Using Local Public Goods? Discussant: H. Woods Bowman, DePaul University
Susan K. Culp and Dan W. Hunting, Sonoran Institute will present Experimenting with Land Value Capture on Western State Trust Lands. Discussant: Amy W. Ando, University of Illinois Urbana-Champaign.
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.
# # #