NYC-WTC_000187725

NYC 9/11 Public Portal Document

i'

91

The first type of application would calibrate the sloping value/distance relationships of NYSTA to existing site-specific land uses or transit station characteristics to determine the aggregate producers surplus or capitalized value of land attributable to transit access, separate from land value attributable to other features of the location. The existing conditions application of NYSTA may be considered a Base Run. Its usefulness is most apparent in establishing the transit-related land value of a particular site, say, for calculating a developer assessment or negotiating a bonus, or for determining the areawide potential yield of a land value tax given alternative rates of taxation. The second type of application would change transit operating or policy characteristics for individual stations or for the system as a whole in order to determine the station area land value implications or to measure the aggregate service area benefits of a particular systemwide action. These changes may include the removal of elevated structures, the introduction of new cars on certain transit lines, the elimination of service or reduction of service frequencies at certain stations, and the opening of new routes. In applying NYSTA to issues of this nature, the simulation may be considered a Policy Run. Its applicability is greatest in transportation planning analysis when value capture methods of. financing new service changes or proposed investments are of interest and the cost-benefit worthiness of the approach is under consideration. f

r.

CITY_2IMC10 0_0 066 6232 2

NYC-WTC_000187822