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With all levels of governments currently, and for the foreseeable future, under significant fiscal stress, any new transit funding mechanism is to be welcomed. Value capture (VC) is one such mechanism, which involves the identification and capture of a public infrastructure-led increase in property value. This book reviews four major VC mechanisms: joint development projects; special assessment districts; impact fees; and tax increment financing; all of which are used to fund transit in the United States. Through the study of prominent examples of these VC mechanisms from across the US, this book evaluates their performance focusing on aspects such as equity, revenue-generating potential, stakeholder support, and the legal and policy environment. It also conducts a comparative assessment of VC mechanisms to help policy makers and practitioners to choose one, or a combination of VC mechanisms. Although the book focuses on the US, the use of the VC mechanisms and the urgent need for additional revenue to fund public transportation are world-wide concerns. Therefore, an overview of the VC mechanisms in use internationally is also provided.
"TRB's Transit Cooperative Research Program (TCRP) Report 116: Guidebook for Evaluating, Selecting, and Implementing Suburban Transit Services examines the current status of suburban transit services and land-use environments and the relationship between the two. Types of suburban transit services include commuter, route deviation, demand response, circulators, shuttles, and vanpools. Also, the guidebook describes the emerging trends that significantly influence the availability and operation of suburban transit services. TCRP Web-Only Document 34 is the companion document to the guidebook. TCRP Web-Only Document 34 includes eight case studies that describe the types of suburban transit services offered the types of operational issues; the funding arrangements; the marketing program; the performance-measurement program; and the successes, challenges, and lessons learned from introducing suburban transit services. The companion report also includes quantitative and qualitative decision matrixes"--Publisher's description.