NYC-WTC_000187725

NYC 9/11 Public Portal Document «*►

54 scale, the corridor scale, and to transit finance policy. Concerns at the neighborhood scale focus on the variation in land value with radial distance from a transit station, while concerns at the 1 corridor scale address the variation in land value with travel time or distance from the region's business center, along an established transit corridor. Issues of transit finance policy are both more regional and generic in scale, encompassing as they do systemwide revenue implications from application of land value capture. J,',

I Some illustrative questions are posed for each issues area in ! the context of concerns pertinent to transport improvements in the I! New York Metropolitan Area. The reader is encouraged to coroe up with examples of his or her own making by keeping in mind the list of model inputs and outputs.

I Neighborhood Scale How much does proximity to a transit/commuter rail station influence the value of various classes of land? What is the detrimental influence of elevated structures? How far do these influences extend? What would be the benefit of removing the remaining 70 miles of elevated line in New York City and how much of the cost of replacing them could be paid from land-value 1 ■ increments? i? Corridor Scale i' 1 How much land value will be generated by cutting a train ride, say, 5 minutes on a line with a particular passenger volume? To what extent can line extensions be warranted by increased land value? Do service attributes other than travel time and passenger 't volume - say, frequency, reliability, lack of crowding, new equipment - have a measurable impact on land value? If so, to what extent could improvements of this type be funded from increased land value? IiaQsit_Finance_Poli^ What would be some of the consequences of shifting transit subsidies from the present system of general taxes to land value taxes? If all subsidies were funded by property in the service territory, what share of aggregate land value would they comprise? Which geographic areas would lose, which ones would gain, in what ways? Is it realistic to think of self-financing transit improvements from land value taxation? What would be implications for zoning and land development policy? Specifically, would land value capture around transit stations encourage greater density of development to shoulder the added tax burden?

Data Needs and Outputs of NYSTA I

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