Latin American and Caribbean Consortium of Engineering Institutions

Conference Track:  Engineering & Public Service

Keywords:         Value Capture, Concepts, Public infrastructure, Financing

Contact Title::    Mr.

Contact First Name: Thayaparan

Contact Last Name:  Gajendran

University:       University of Newcastle

Web:              http://www.newcastle.edu.au

Position:         Associate Lecturer

Country:          Australia

Email:            Thayaparan.gajendran@newcastle.edu.au

Fax:              61-2-4921 6913

Submit:           Submit

Date:             Sunday, March 28, 2004

Time:             06:07:08 PM

Paper Title: 

Asset Value Capture: An Overview of the concepts and techniques 

Abstract:

 The concept of Asset Value Capture (AVC) is increasingly considered by  public sector authorities as a financing mechanism to fund capital  engineering infrastructure projects, particularly transportation services. Research  suggests that land value increases with the proximity to infrastructure and indeed, private land owners make a windfall gain, independent of  their individual decisions. In some quarters it is viewed that a  proportion of this gain should be captured and returned used to pay off the projects costs, rather than being left for opportunistic  speculators. In essence AVC is based on the concept that increase in economic value of land, due proximity to new infrastructure projects, can be taxed to fund the project. This paper reviews the literature in this area and identifies the gaps that should be addressed in the near future, providing potential for research.

Mailing Address:

 School of Architecture and Built Environment

Faculty of Architecture and Built Environment

University Drive, Callaghan

NSW 2308

 Phone:

 61-2-4921 5781

 Other Authors:

 Thayaparan Gajendran, Thayaparan.Gajendran@newcastle.edu.au, University of Newcastle (P)

 Graham Brewer, gbrewer@mail.newcastle.edu.au, University of Newcastle

 Swee Eng Chen, swee.chen@newcastle.edu.au, University of Newcastle