A long-standing argument that the inability to fund local infrastructure is preventing new housing from being built has prompted a new research project to find a solution. A team of researchers, led by the RTPI, will look at how other governments from around the world fund infrastructure through capturing the uplift in land value resulting from public investment.
In an outline of the project proposal, released today, the team say they hope to develop a process that can be used across England and Wales to capture uplifts in land value for public benefits including infrastructure and housing of all types and tenures.
Joe Kilroy, RTPI Policy Officer, who is leading the research team said:
“The uplift in value which goes directly to landowners when public investment is made on or near a piece of land is a reasonable place to look for infrastructure funding. It is often public investments that produce an uplift in land values, and we will identify a fair way of using this uplift to fund infrastructure and housing we need.”
The RTPI is carrying out this research with Professor Craig Watkins, Dr Sarah Payne, Dr Richard Dunning, and Emeritus Professor Tony Crook from the Universities of Sheffield and Liverpool with funding from the Crook Public Service Fellowship. They are due to release an interim report during the summer and a full report by September. The full abstract for the project, The Use of Alternative Land Value Capture Mechanisms to Deliver Housing in England and Wales, can be read here.
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