Value-capture mechanisms are a type of public financing whereby increases in the private land values generated by public investments are “captured” to repay the cost of the public investment. The most commonly cited example is tax increment financing (TIF). New Jersey has put in place its own value-capture tools, including the Economic Redevelopment and Growth Grant program and Redevelopment Area Bonds, that have been used to advance redevelopment projects throughout the state. In this session, the audience will learn more about value-capture mechanisms and how other states have used them creatively to foster redevelopment and investments in transit. Participants will also learn more about the New Jersey programs, including where they work well and where they face challenges.
