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04-08: Implementing urban land value capture
The role of transferrable development rights in emerging economies
1Oxford Brookes University, United Kingdom; 2World Bank, Washington DC, USA; 3World Bank, Ankara, Turkey
In recent years a number of emerging economies have experimented with the use of transferrable development rights (TDRs) to support urban development, including Brazil, India, and Turkey. Most TDR schemes are found in USA and are used to protect vulnerable land and buildings from being destroyed by development by persuading their owners voluntarily to accept restrictions on their ability to undertake legally permitted development in return for credits which can be sold to developers for use in designated receiving areas. The paper examines the potential uses of TDRs and the economic and governance environment needed to make them effective. It considers how effective a spatial planning tool TDRs are likely to be in emerging economies and whether there are better alternative ways of achieving the objectives aimed for in TDR programs.
Is there a role of Land Value Capture Instruments for financing infrastructure investments in a messy urban growth scenario?
Harvard University and Torcuato Di Tella University, Argentine Republic
Many cities experienced a highly disorganized urban growth resulting in severe under-provision of urban infrastructure due to institutional and budgetary fiscal weaknesses. This study explores the feasibility of widening public funding of infrastructure investment using LVC tools in Metropolitan Buenos Aires, taking into account the wide income dispersion of households. A simulation model, estimates the potential collection from alternative LVCs and their feasibility in terms of the impact on income distribution due to income dispersion in each municipality where specific infrastructure is to be developed. Novel data on land values, household income/expenditures and land regulation are used, adding to local/state land revenues which are combined with the infrastructure plans advanced by the government. A general estimation of the share of land value increases that could be captured through various LVC instruments is provided, as well as the comparison of this projected revenue relative to public funds generated via other mechanisms.
Unlocking the potential of urban land in Kenya
1World Bank, Kenya; 2Walker Kontos Advocates, Kenya
An ambitious public infrastructure program funded by public debt has positioned Kenya as a regional economic hub with growth in the financial, technology, service and hospitality sectors. Kenya has become an attractive and preferred destination for foreign companies who set up assembly plants in Kenyan business districts to penetrate the lucrative markets in the region. Ideally, the substantial investment in infrastructure should result in similar or higher return to the government through increased revenue collection. This is however not the case as the revenue generated in these business districts is less than optimal. The government is not getting a fair return on its investment and has to contend with rising public debt. This paper recommends innovative alternative funding sources such as land value capture, as a way of ensuring direct beneficiaries of infrastructure developments pay their fair share towards reducing the mismatch between public expenditure and revenue collection.
Institutional arrangements as a catalyzing instrument for land value capture processes in public transportation projects
JFP & Asociados, Colombia
Land value capture (LVC) tools and policies are arousing as innovative mechanisms that could serve to accomplish a two-way goal: to fund public construction and to enhance accurate urban development.
Among other urban processes, public transportation projects in cities in developing countries represent at the same time an opportunity and a challenge for public administrations to execute LVC policies.
Three cities in Latin America, have started the path to build and urban strategy to adavance LVC and TOD policies in their metro systems: Bogotá, City of Panamá, and Quito. From different contexts the cases are showing that is crucial to look close to institutional arrangements and found ways to set a solid basis for the dialogue between urban planning and transport.
Lessons learned in each case should bring important conclusions to understand how institutional arrangements could work as an innovative mechanism that could catalyze LVC processes implementation.
The untold story of Taiwan's land-based financing program - land readjustment or land grabbing?
1National Chengchi University, Taiwan; 2China University of Technology, Taiwan
Land-based finance (LBF) has become an important topic in recent years. To a local government this represents a valuable source of income from which to fund services, infrastructure development and maintenance programs. LBF encompasses a variety of taxes, charges, income from the sale of development rights and public lands, and land readjustment. Urban land readjustment (ULR) is one of the major ways in which Taiwan's LBF programs have accrued great revenues for government. However, the untold story is that ULR deprives landowners of their human rights, especially for those powerless to object. Who owns the power to decide the ULR zone? Can landowners say no to it? Can the ULR be justified only by its financial contributions to the government? These are important questions that this article aims to explore.
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Conference: 20th Land and Poverty Conference
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