Value Capture strategies can leverage private investment without dependence on municipal financing including leverage contributions from private investors in economic development and redevelopment to achieve economic, social, environmental benefits, and meet the local objectives. Value Capture strategies used could be special assessments, tax increment financing, and development impact fees, as well as negotiated approaches such as developer contributions, air rights, and joint development agreements. Value Capture revenues can be used for capital and operating costs, or in support of innovative delivery methods, such as public-private partnership (PPP) structures where private investors will expect a return. A partnership is most successful when it creates value for all partners. Value Capture offers a way forward as a means to simultaneously grow the internal and external rates of returns of investments.
Public–private partnerships (P3s) are contractual agreements between a public agency and a private entity that allow for greater private participation in the delivery of transportation projects. Typically, this participation involves the private sector taking on additional project risks, such as design, finance, long-term operation, and traffic revenue. P3s are applicable across all sectors of municipal services such as transportations, economic developments, utilities, health care, educations, and municipal facilities.
The webinar features experts discussing their best practices and reviewing case studies of value capture (VC) and public-private partnerships (P3s) in transportation funding and project delivery.