High Speed Rail And TOD
High-speed rail continues to move forward in key states, such as California and Florida. The San Francisco Planning and Urban Research Association (SPUR) just released a report on how to generate supportive land-use and intermodal transit connections for California’s high-speed rail network.
The extensive 22-page report lays out some of the opportunities from high-speed rail, such as addressing equity concerns, revitalizing downtowns, and reaching CO2 reduction targets. The report also lays out some of the constraints that could limit the state’s ability to benefit from high-speed rail, such as insufficient funds for planning, building and maintenance; incongruent local land use; the lack of urban growth boundaries; and insufficient connecting transit in many station areas. The report closes with a series of recommendations for cities that receive stations, the California High Speed Rail Authority, the California Legislature, Metropolitan Planning Organizations, and other key stakeholders.
Key in their list of recommendations is the use of value capture strategies that incorporate not only increment from property taxes, but state personal income taxes and state corporate income taxes as well. SPUR proposes to use these funds to pay for station area improvements. These tax increment finance ideas will require state legislation, and in some instances a local vote.