Environmental Engineering Reference
In-Depth Information
Financing Urban Transport Through
Value Capture
Lucía Mejía Dorantes and José Manuel Vassallo Magro
Introduction
The European Union in the Green Book on Urban Transport notices that in order
to foster urban and suburban sustainable mobility among citizens, they should be
provided with transport services with quality that is efficient and reliable. However,
to provide good services, it is essential to develop and adequately maintain and
operate the necessary infrastructure facilities. The report intends to establish
different strategies for sustainable urban transport, giving special emphasis in the
need to rely on important economical resources to invest in transport infrastructure.
Those strategies take shape in a group of measures related to budgets, regulations
and different financial instruments such as specific local taxes, in order to accom-
plish the goals.
On the other hand, urban economics states that if a property has the opportunity
to access to better benefits than the others, the demand for it will be higher, increasing
its value.
A new station generates a benefit around it, which people living or working
close to it take special advantage from. This benefit is noticed in the real estate
market increase, especially in the areas close to the stations. The above is because
people prefer to live close to a public transport station that will facilitate their
commuting trips and lower their transportation costs. Likewise, retail stores and
offices are benefited in its location by the number of people that uses this means of
transport and by the facility that means of transport implies to the employees to
commute.
