Unlocking Land Values to Finance Urban Infrastructure

Urban growth throughout the developing world has created a challenge for financing infrastructure. Investment in infrastructure is needed to provide basic services for newly developed parts of urban areas. It is needed to meet the demand for a safe...

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Bibliographic Details
Main Author:	Peterson, George E.
Format:	Publication
Language:	English en_US
Published:	Washington, DC : World Bank 2012
Subjects:	ACCESS ROADS ACCOUNTABILITY ACCOUNTING ACQUISITION OF RIGHT-OF-WAY ADMINISTRATIVE COSTS AIRPORT AIRPORT CONSTRUCTION AIRPORTS ASSET MANAGEMENT ASSET SALES ASSETS AUCTIONS BALANCE SHEET BETTERMENT LEVIES BRIDGE BUDGET SURPLUS BUS BUS STATION CAPACITY FOR ROADS CAPITAL BUDGETING CAPITAL BUDGETS CAPITAL COSTS CAPITAL GRANTS CAPITAL INVESTMENT CAPITAL PROJECTS CAPITALIZATION CITIES COLLATERAL COMMERCIAL BANKS COMMUNITY DEVELOPMENT CONGESTION CONGESTION COSTS COST OF CAPITAL DEBT FINANCING DEBT SERVICE DECENTRALIZATION DEVELOPMENT CHARGES DRAINAGE ECONOMIC CONDITIONS EFFICIENCY OF INFRASTRUCTURE ELECTRICITY EXPRESSWAYS FARES FINANCE INFRASTRUCTURE FINANCING OF INFRASTRUCTURE FINANCING SOURCES FISCAL MANAGEMENT FISCAL RESPONSIBILITY FLOOR SPACE FREE TRANSFER GOVERNMENT DEBT GOVERNMENT FRAGMENTATION HIGHWAY HIGHWAY ACCESS HIGHWAY CONSTRUCTION HIGHWAY PROJECTS HIGHWAYS HOUSING INCOME INFRASTRUCTURE CAPACITY INFRASTRUCTURE COST INFRASTRUCTURE COSTS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INTERGOVERNMENTAL FINANCE INTERNATIONAL AIRPORT INTERNATIONAL AIRPORTS INVENTORY INVESTMENT IN ROADS LAND DEVELOPMENT LAND PRICES LAND TAKE LAND USE LAND VALUE LAWS LICENSES LIGHT RAIL LOCAL BUDGETS LOCAL GOVERNMENT LOCAL GOVERNMENT REVENUE LOCAL GOVERNMENTS MARKET VALUE MASS TRANSIT METRO RAIL METROPOLITAN AREAS MINISTRY OF TRANSPORTATION MOBILITY MUNICIPAL MUNICIPAL BONDS MUNICIPAL DEBT MUNICIPAL FINANCE MUNICIPAL GOVERNMENT MUNICIPAL GOVERNMENTS MUNICIPAL INFRASTRUCTURE MUNICIPAL SERVICES MUNICIPALITIES MUNICIPALITY NATIONAL GOVERNMENTS NEIGHBORHOODS OPEN AUCTIONS OPERATING COSTS PASSENGERS POPULATION GROWTH PORT AUTHORITY PRICE DIFFERENTIALS PRIVATE RAILROADS PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCTIVITY PROPERTY SALES PROPERTY TAX BASE PROPERTY TAXES PUBLIC PUBLIC ACCOUNTABILITY PUBLIC ADMINISTRATION PUBLIC AGENCIES PUBLIC BORROWING PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCING PUBLIC INFRASTRUCTURE PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC POLICY RISKS PUBLIC PROPERTY PUBLIC SECTOR PUBLIC SERVICES PUBLIC SPENDING PUBLIC TRANSIT PUBLIC USE PUBLIC WORKS PUBLIC WORKS PROJECTS RAIL RAIL LINKS RAIL STATIONS RAIL SYSTEM RAIL SYSTEMS RAIL TRANSIT RAIL TRANSIT SYSTEMS RAILROADS REAL ESTATE MARKETS RECURRING REVENUE REGIONAL TRANSPORTATION REGIONAL TRANSPORTATION PLAN RING ROAD RING ROADS ROAD ROAD SYSTEMS ROADS ROUTE ROUTES SAVINGS SETTLEMENTS STATE GOVERNMENT STREET PAVING STREETS SUBSIDIARY SUBWAY TAX TAX REVENUES TAXATION TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRANSIT INVESTMENT TRANSIT STATIONS TRANSIT SYSTEMS TRANSPARENCY TRANSPORT TRANSPORTATION TRANSPORTATION AGENCY TRANSPORTATION INFRASTRUCTURE TRANSPORTATION PROJECTS TRUE UNDERGROUND URBAN AREAS URBAN DEVELOPMENT URBAN ECONOMIC GROWTH URBAN GROWTH URBAN HIGHWAY URBAN INFRASTRUCTURE URBAN MANAGEMENT URBAN PLANNING URBAN SERVICES URBAN SPRAWL URBANIZATION UTILITIES WATER SUPPLY WATER SUPPLY SYSTEMS WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2008/10/9949773/unlocking-land-values-finance-urban-infrastructure http://hdl.handle.net/10986/6552

Description
Summary:	Urban growth throughout the developing world has created a challenge for financing infrastructure. Investment in infrastructure is needed to provide basic services for newly developed parts of urban areas. It is needed to meet the demand for a safer and more reliable water supply, higher standards for the removal and treatment of wastewater and solid waste, and the transportation requirements of a population whose expectations of mobility rise with household incomes. Infrastructure investment also is essential to the economic productivity of cities. This book examines an important additional option for local infrastructure finance: capturing land value gains for public investment. Land values are highly sensitive to infrastructure investment and urban economic growth. Public works projects such as road construction, water supply, and mass transit investment produce benefits that are immediately capitalized into surrounding land values. Many cities in developing countries have underused public lands that would be more valuable if sold and converted into infrastructure assets. Tapping land values was a large part of the investment strategy of Western countries in financing urban infrastructure during the 19th century, when cities were growing most rapidly. As part of the overall financing mix, using land assets for infrastructure finance has several advantages. Most instruments of this type generate revenues upfront, making it easier to finance lumpy investment projects. Mobilizing finance from land transactions also generates price signals that increase the efficiency of urban land markets and help rationalize the urban development pattern.

Unlocking Land Values to Finance Urban Infrastructure

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