Planning tools to assess the real estate leveraging potential for roadways and transit : technical report.

713360930Technical report; Sept. 2009\uc2\ubfNov. 2010.PDFTech ReportFHWA/TX-11/0-6538-1Report 0-6538-1Project 0-6538Value captureTransportation planningInvestmentsFinanceReal estate developmentTexasTexas Transportation InstituteVadali, SharadaAldrete, RafaelBujanda, ArturoSamant, SwapnilLi, YingfengGeiselbrecht, TinaKuhn, BeverlyLyle, StaceyDalton, KyleZhang, MingTooley, ShaunTexas Transportation InstituteTexas. Dept. of Transportation. Research and Technology Implementation OfficeNTL-PLANNING AND POLICY-PLANNING AND POLICYUS Transportation CollectionA funding crisis exists for financing much needed transportation infrastructure projects across the nation andTexas is no exception. Texas has responded to the crisis by passing several bills allowing innovativefinancing and alternative options for project financing. Among these is Senate Bill 1266 (SB1266), which isa landmark legislation and was passed in 2007 as part of the 80th Legislature to provide the legal backdropfor the creation of the Transportation Reinvestment Zone (TRZ) to facilitate value capture of the taxincrement from a future transportation project. This research aimed to provide various mechanisms toaugment the implementation and understanding of SB1266 provisions across the state of Texas including butnot limited to documenting the current understanding and knowledge of the legislative provisions,compilation of actual implementation case examples, development of standardized methods for screening,TRZ development and revenue assessments, and also presents the results of a workshop held to augment theunderstanding of TRZ for highway projects. An additional section of this research explores the implicationsof SB1266 for transit finance and discusses this aspect within the larger context for innovative finance of alltransit infrastructure both those on the state highway systems and off. Finally, specific recommendations tothe legal framework are made in the light of specific objectives of the research both for highways and transitin regard to the use of increment based finance