%0 Thesis
%9 Doctoral
%A Modelewska, ME
%B Civil, Environmental & Geomatic Engineering
%D 2017
%F discovery:1556387
%I UCL (University College London)
%P 355
%T Financing public transport using value capture finance: an incremental assessment framework for investments in transport infrastructure ("I-FIT")
%U https://discovery.ucl.ac.uk/id/eprint/1556387/
%X Cities around the world, which are making sizeable infrastructure investments, are  increasingly looking to deploy the Value Capture Finance (VCF) as a potential solution  for raising more revenue to defray the costs associated with the construction and  operation of public transport systems. For public authorities in particular, there is a  strong rationale to recapture the ‘unearned’ increment through VCF. Yet, despite a rich  history of research on VCF, a mechanism is elusive and theoretical. Conceptual and  practical gaps remain in the field of VCF that prevent the wider adoption of the concept.  To address the gaps, the present thesis develops an Incremental Assessment  Framework for Investments in Transport Infrastructure (“I-FIT”), which integrates  economic theory with operational planning methods in order to establish an approach  for structuring VCF instruments, which are advanced in theory, practical in operation,  and useful in policy-making. This is accomplished through three objectives.  - First, a meta-synthesis of existing literature on the topic is conducted to provide  background and context to the study and to offer a conceptual underpinning of  the I-FIT framework.  - Second, an incremental assessment framework is proposed to better  conceptualise and guide the analysis of VCF potential for public transport  infrastructure investment.  - Third, the framework is applied to two transport case studies, the East London  Line in the United Kingdom and the Warsaw Metro in Poland, to provide a  rationale for incorporating VCF in transport infrastructure finance more widely.  In accomplishing these objectives, the present thesis makes a number of contributions  to research and practice of VCF. It also raises a number of questions for further  research. Nevertheless, this work presents a significant step towards linking  theoretical, conceptual and practical consideration of VCF and realising research that is  more comprehensive and applicable for transport policy makers around the world.