Camilo Mendoza

Value Capture for Funding Mass Transit Infrastructure: the Case of Brt in Bogota, Colombia Camilo Mendoza

Mass transit projects are developing everywhere, and specifically Bus Rapid Transit (BRT) systems are taking place in many countries. Funding such projects is a big issue for public entities. Value capture is an option. It is the process by which a portion or all increments in land value attributed to ?community efforts? are recouped by the public sector. A research of several value capture mechanisms for funding transit projects is carried out throughout this report. More than 20 tools are described. These instruments can be divided in three groups: i) value capture from the developers, ii) value capture from the community and iii) value capture from ?within?. Using the case of Colombian first BRT project (held in Bogota) I suggest value capture instruments and mechanisms to be implemented in the city as a way to help funding the infrastructure of the system. Lessons can be learned to find new sources of funding mass transit projects around the globe.