One of the most important implications of this charter city strategy is it can change the power relations. Romer has made similar comments here in the Urbanization Project's recent " FAQ: New Choices for Leaders." He describes how a country might use the land value capture model in a charter city-an approach that would allow leaders in a developing country to drive reforms that match up with the goals for their societies.
It’s the same argument for electricity and gas where we’ve got the same problem.” “We have to return to that, that’s what we lost. “Their metro system is fundamentally a property company,” Lister noted, adding that similar schemes financed the expansion of railroads in Europe and North America in the 19th century. Yet London does not garner 23 percent of the national government’s investments.One idea for getting around that comes from Hong Kong: the city government buys the land around any new transit line, and the sale of that now more valuable real estate funds the construction of the new line. Or take London: “We’re 23 percent of the country’s ,” said Sir Edward Lister, that city’s deputy mayor for policy and planning. After all, the roughly 1,200 square kilometers of land on which New York sits is now valued at around $600 billion, much more than the total cost of building the Big Apple. “Cities are worth more than they cost to build so we should be able to get more of them at a profit,” Romer noted, because the gain in the value of city property should be more than enough to compensate a government for building and running a city.
#Infrastructure week panel cardinal land value capture how to#
The challenge, as always, is how to pay-whether for metros, bus rapid transit or any other solution.
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