Over at CommissionerSam.com, Sam is enthusing over a new financing tool he heard about at RailVolution, Transit Revitalization Investment Districts. The idea is to capture the value created by transportation improvements, and use that to fund the improvements. Similar in concept to Tax Increment Financing, but in operation more like beefed up versions of the Local Improvement Districts we’ve used already on Streetcar. Interestingly, the Local Improvement Districts (which are semi-voluntary, elected by a majority of the property owners) have been increasing in value, from about 17% on the first Streetcar project to about 50% of the capital costs on the Lowell extension that is now under construction.


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