An investigation into value capture and favourable conditions for its use In helping to finance transportation projects In South Africa.

[摘要] The purpose of the investigation contained in this project report was toidentify what methods of value capture exist and what conditons wouldfavour their use in the transportation field in South Afdca.The investigation was motivated by a need to identify new ways ofgenerating revenues for transport projects since traditional sources arebeing depleted or used for other purposes.A review of international literature on value capture identified fourteentechniques which may be used. These techniques were grouped under threeheadings - property-related charges, joint ventures and merchandisingapproaches. The advantages and disadvantages of each technique asdescribed in the literature are outlined. Examples of where thesetechniques have been used around the world are also given and thecurrent situation in south Africa with regard to value capture ispresented.A survey of transportation professionals in the public and private sectorsin South Africa regarding the identified value capture techniques showedthat joint development, the lease or sale of development rights andadvertising space and the use of concessions were the most favouredtechniques. Tax increment financing. special benefit assessments andemployer wage-bill levies were the least favoured. The survey alsoprovided brief descriptions of some past value capture applications inSouth Africa in the transport sector whilst, accorddng to the surveyrespondents, future applications will most likely occur in associationwith the provision of public transport facilities. The main conclusions drawn from the investigation are that value capturemust be seen as an essential component in the process of integratingtransport and land use; that the involvement of the private sector invalue capture exercises is vital and that public authorities will need torevise their role with regard to the delivery of transport facilities ifthe number of value capture applications is to grow. Additionalconclusions offer some guidelines to help further the implementation ofvalue capture in the transportation field in South Africa.

[发布机构] University of the Witwatersrand