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212Re: [WorldTransport Forum] Land Value Capture

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  • Neil Douglas
    Feb 25, 2004
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      Please supply full reference please - I am currently advising NSW State
      Authorities on proposed underground tunnel through central Sydney, a LRT in
      Sydney CBD and new underground rail links in NW Sydney and SW Sydney.

      Your property increase figures are therefore interesting.

      Neil Douglas

      Neil Douglas
      DOUGLAS Economics
      PO Box 9926 Te Aro
      Wellington NZ
      tel 64 4 4724645
      mob NZ (64) 021 102 93 48
      mob Aus (61) 0409 605 163

      ----- Original Message -----
      From: "Wetzel Dave" <davewetzel@...>
      To: <NewMobility@yahoogroups.com>; <WorldTransport@yahoogroups.com>;
      "'UTSG'" <UTSG@...>
      Sent: Wednesday, February 25, 2004 11:34 PM
      Subject: [WorldTransport Forum] Land Value Capture

      One of the biggest difficulties we face when trying to improve public
      transport is finance.

      A London property developer, Don Riley, in his book "Taken for a Ride", has
      estimated that the Jubilee Underground Line extension in South and East
      London has raised land values by £13 billion within 1 km radius around the
      ten new stations on the line.

      The line only cost £3.5bn to build.

      If this value were collected by means of a Location Benefit Levy then there
      would have been enough income to pay for three new lines without any
      resource to taxes on trade or higher fares.

      Happy to send more information personally to anyone requesting it.


      Dave Wetzel
      Transport for London
      42-50 Victoria Street. London.
      SW1H 0TL. UK

      Tel: 020 7941 4200

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