Financing urban transport through value capture.

Abstract

The Green Paper on Urban Transport highlights the importance of promoting public transport as a means of achieving better sustainable mobility. Unfortunately, budget resources are often constrained. On the other hand, literature points out that transport infrastructure induce economic impacts in the areas where they are placed. This effect is caused by the fact that people realize the positive effects of accessibility and want to live or work close to transport stations. Regarding this fact a question arises. Is it possible to capture the value induced by the construction of a new infrastructure facility as an additional financial source? The aim of this paper is to analyze different direct and indirect mechanisms of value capture to fund transport infrastructure.