Annotated Bibliography - SSTI

Title
Authors
Sponsor
Public Transportation: Federal Role in Value Capture Strategies for Transit is Limited, but
Additional Guidance Could Help Clarify Policies
United States Government Accountability Office (GOA)
GOA‐10‐781
Date July, 2010
Pages 55
Category
Note
Online
Summary
Mode: Transit; Economic results
http://www.gao.gov/new.items/d10781.pdf
The GAO has documented the use of value capture techniques around transit
investment through assessing strategies considered or used at 55 transit properties.
Techniques used include: joint development, special assessment districts, tax increment
financing, and development impact fees. The authors dtermined that the percentage of
a project’s cost covered by examples for 9 transit systems ranges 4% for a bus tunnel in
Seattle to as much as 61% for the new Beltline in Atlanta.
Success is dependent in most instances on the cooperation and partnerships that are
developed among the transit agency and the local government, adjacent property
owners, and/or private developers. Other important factors for success noted include:
density and zoning around the station, favorable economic conditions, and low crime
rates. State law also must allow the establishment of special assessment districts, tax
increment financing, and development impact fees. It was noted that some states such
as California and Maryland have allowed transit agencies to create assessment districts
within certain distance of stations. Confusing rules of the Federal Transit Administration
and the requirement for 1 to 1 parking space replacement were cited as barriers.
Annotated Bibliography Page 36