Revolutionizing Urban Development: Funding Transit with Land Values in Developing Countries.
Cities in developing countries are growing rapidly, leading to problems like traffic congestion and pollution. To address this, some cities are using a method called Development-based Land Value Capture (DBLVC) to fund public transportation systems. This method involves capturing the increase in land value near transit stations to finance transit projects. By implementing DBLVC schemes, cities can not only raise money for transit but also promote sustainable urban development. This approach has been successful in Asian cities like Hong Kong and Tokyo and has the potential to help developing countries improve their transit systems and urban planning.