Land Readjustment

In this book, the authors argue for instigated property exchange--a concept applied in a land-assembly method commonly known in the literature as land readjustment.

In dealing with scarce land, planners often need to interact with, and sometimes confront, property right-holders to address complex property rights situations. To reinforce their position in situations of rivalrous land uses, planners can strategically use and combine different policy instruments in addition to standard land use plans. Effectively steering spatial development requires a keen understanding of these instruments of land policy. This book not only presents how such instruments function, it additionally examines how public authorities strategically manage the scarcity of land, either increasing or decreasing it, to promote a more sparing use of resources. It presents 13 instruments of land policy in specific national contexts and discusses them from the perspectives of other countries. Through the use of concrete examples, the book reveals how instruments of land policy are used strategically in different policy contexts.

Regenerating Urban Land draws on the experience of eight case studies from around the world. The case studies outline various policy and financial instruments to attract private sector investment in urban regeneration of underutilized and unutilized areas and the requisite infrastructure improvements. In particular, each case study details the project cycle, from the scoping phase and determination of the initial amount of public sector investment, to implementation and subsequent leveraged private-sector funds. This manual analyzes rates of return on the investments and long-term financial sustainability. Regenerating Urban Land guides local governments to systematically identify the sequence of steps and tasks needed to develop a regeneration policy framework, with the participation of the private sector. The manual also formulates specific policies and instruments for expanding private sector participation; structuring effective administrative and legal frameworks; utilizing land readjustment/assembly methods; determining duration of contracts, adequate phasing, and timeline; and balancing the distribution of risk and sustainability measures.

Traditionally, the public sector has been responsible for the provision of all public goods necessary to support sustainable urban development, including public infrastructure such as roads, parks, social facilities, climate mitigation and adaptation, and affordable housing. With the shift in recent years towards public infrastructure being financed by private stakeholders, the demand for transparent guidance to ensure accountability for the responsibilities held by developers has risen. Within planning practice and urban development, the shift towards private financing of public infrastructure has translated into new tools being implemented to provide joint responsibility for upholding requirements. Developer obligations are contributions made by property developers and landowners towards public infrastructure in exchange for decisions on land-use regulations which increase the economic value of their land. This book presents insight into the design and practical results of these obligations in different countries and their effects on municipal financial health, demonstrating the increasing importance of efficient bargaining processes and the institutional design of developer obligations in modern urban planning. Primarily written for academics in land-use planning, real estate, urban development, law, and economics, it will additionally be useful to policy makers and practitioners pursuing the improvement of public infrastructure financing.

"Attention to value capture as a source of public revenue has been increasing in the United States and internationally as some governments experience declines in revenue from traditional sources and others face rapid urban population growth and require large investments in public infrastructure. Privately funded improvements by land-owners can increase the value of their land and property. Public actions, such as investments in infrastructure, the provision of public services, and planning and land use regulation, can also affect the value of land and property. Value capture is a means to realize as public revenue some portion of that increase in value through various revenue-raising instruments. This book, based on the Lincoln Institute of Land Policy's sixth annual land policy conference in May 2011, examines the concept of value capture, its forms, and applications. The first section, on the conceptual framework and history of value capture, reviews its relationship to compensation for partial takings; the long history of value capture policies in Britain and France; and the remarkable expansion of tax increment financing in California. The second section reviews the application of particular instruments of value capture, including the conversion of rural to urban land in China, town planning schemes in India, and community benefit agreements. The third section focuses on ends instead of means and examines the use of value capture by community land trusts to provide affordable housing, the use of land development to finance transit, and the use of various fees to fund airports. The final section explores potential extensions of value capture mechanisms to tax-exempt nonprofits and to the management of state trust lands in the United States."--Publisher's website.

Economic corridors—ambitious infrastructural development projects that newly liberalizing countries in Asia and Africa are undertaking—are dramatically redefining the shape of urbanization. Spanning multiple cities and croplands, these corridors connect metropolises via high-speed superhighways in an effort to make certain strategic regions attractive destinations for private investment. As policy makers search for decentralized and market-oriented means for the transfer of land from agrarian constituencies to infrastructural promoters and urban developers, the reallocation of property control is erupting into volatile land-based social conflicts. In Shareholder Cities, Sai Balakrishnan argues that some of India's most decisive conflicts over its urban future will unfold in the regions along the new economic corridors where electorally strong agrarian propertied classes directly encounter financially powerful incoming urban firms. Balakrishnan focuses on the first economic corridor, the Mumbai-Pune Expressway, and the construction of three new cities along it. The book derives its title from a current mode of resolving agrarian-urban conflicts in which agrarian landowners are being transformed into shareholders in the corridor cities, and the distributional implications of these new land transformations. Shifting the focus of the study of India's contemporary urbanization away from megacities to these in-between corridor regions, Balakrishnan explores the production of uneven urban development that unsettles older histories of agrarian capitalism and the emergence of agrarian propertied classes as protagonists in the making of urban real estate markets. Shareholder Cities highlights the possibilities for a democratic politics of inclusion in which agrarian-urban encounters can create opportunities for previously excluded groups to stake new claims for themselves in the corridor regions.