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"TRB's National Cooperative Highway Research Program (NCHRP) Synthesis 459: Using the Economic Value Created by Transportation to Fund Transportation presents information on financing mechanisms used by transportation agencies to capture a portion of the economic value created by public investment in transportation infrastructure to fund transportation improvements. The report provides an overview of ten types of "value capture" mechanisms and presents case examples of how transportation agencies have used these mechanisms to help fund specific highway projects"--Publisher's note.
Incentive zoning has received renewed attention as communities implement smart growth principles into planning and development processes. Incentive zoning allows a developer to build a larger, higher-density project than would be permitted under existing zoning. In exchange, the developer provides something that is in the community's interest that would not otherwise be required (e.g., open space, plazas, arcades, etc.). The common types of community benefits or amenities for which state and local governments have devised incentive programs are urban design, human services (including affordable housing), and transit access. This report provides historical perspective, summarizes state enabling legislation, and describes the key substantive and legal issues local governments must address in crafting such regulations. Case studies from Arlington County (Virginia), Minneapolis, and Seattle demonstrate how incentives can be used to achieve smart growth objectives. The report also provides principles to guide model legislation for zoning and affordable housing incentives.