Unlocking Land Values to Finance Urban Infrastructure

George E. Peterson

• Publisher: World Bank Publications
• Year: 2008
• Topic: Politics & International Relations
• eBook ISBN:
  9780821377109
• Subtopic: Business General
• Index: Politics & International Relations

Land-based financing of urban infrastructure is growing in importance in the developing world. Why is it so difficult to finance urban infrastructure investment, when land values typically increase by more than the cost of investment? 'Unlocking Land Values to Finance Urban Infrastructure' examines the theory underlying different instruments of land-based finance, such as betterment levies, developer exactions, impact fees, and the exchange of publicly owned land assets for infrastructure. It provides a wealth of case-study illustrations of how different land-based financing tools have been implemented, and the lessons learned from these experiences. This practical guide is designed to help expand the role of land-based financing in urban capital budgets in a way that strengthens urban infrastructure finance and urban land markets.

Table of contents

• CONTENTS
• FOREWORD
• ACKNOWLEDGMENTS
• ABOUT THE AUTHOR
• ABBREVIATIONS
• OVERVIEW
• 1. INTRODUCTION TO LAND-BASED FINANCING OF URBAN INFRASTRUCTURE
• 2. LINKING PRINCIPLES TO LAND-FINANCE INSTRUMENTS: DEVELOPED-COUNTRY EXPERIENCE
• 3. LAND-BASED INFRASTRUCTURE FINANCE IN DEVELOPING COUNTRIES
• 4 BALANCE SHEET ADJUSTMENTS AND LAND ASSET MANAGEMENT
• 5 CONCLUSIONS, RECOMMENDATIONS, AND REFLECTIONS
• REFERENCES
• INDEX
• BOX 2.1 New Town Land Financing in Orestad, Denmark
• BOX 2.2 Implementation of Betterment Levies in Poland and in Sydney, Australia
• BOX 2.3 Land Finance and the Reconstruction of Paris
• BOX 2.4 Impact Fee System in Phoenix, Arizona
• BOX 2.5 World Trade Center and Infrastructure Investment, Port Authority of New York and New Jersey
• BOX 3.1 Madinaty: Infrastructure Development through Public-Private Partnership in New Cairo, Egypt
• BOX 3.2 Proposed Valorización Program in Cali, Colombia
• TABLE 1 Magnitude of Land Financing in Select Projects of Developing Countries
• TABLE 2 Land-Financing Instruments
• TABLE 1.1 Representative Capital Budget
• TABLE 1.2 Land-Value Gains and Infrastructure Costs in Recife, Brazil
• TABLE 2.1 Composition of Municipal Assets in Dallas, Texas
• TABLE 3.1 Share of Valorización in Municipal Revenues in Bogotá and Cali, Colombia, 1980–90
• TABLE 3.2 Urban Airport Investment in India
• TABLE 3.3 Rules for the Acquisition and Resale of Public Land in Select Asian Locations
• TABLE 4.1 Importance of Land Assets in Changsha, Hunan Province, China, 2002
• TABLE 4.2 Public Property Sales in Istanbul, Turkey, 2003–07
• TABLE 4.3 Summary of the Project to Sell Victoria and Albert Waterfront in South Africa
• TABLE 4.4 Summary of the Bandra-Kurla Complex Project in Mumbai, India
• TABLE 4.5 Land Sales by Mumbai Metropolitan Regional Development Authority at Bandra-Kurla Complex in Mumbai, India
• TABLE 4.6 Summary of the Land Auction Project in Cairo, Egypt
• TABLE 4.7 Summary of the Fort Bonifacio Land Sale and Development in Metro Manila, the Philippines
• TABLE 5.1 Magnitude of Land Financing in Select Projects of Developing Countries
• TABLE 5.2 Land-Financing Instruments