TY  - UNPB
AV  - none
Y1  - 2017/05/28/
EP  - 355
TI  - Financing public transport using value capture finance: an incremental assessment framework for investments in transport infrastructure ("I-FIT")
N1  - Unpublished
PB  - UCL (University College London)
UR  - https://discovery.ucl.ac.uk/id/eprint/1556387/
N2  - 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.
ID  - discovery1556387
A1  - Modelewska, ME
M1  - Doctoral
ER  -