Port Authority Transportation Reinvestment Zone Development and Implementation Guidebook
Author(s):
R.M. Aldrete, S.R. Vadali, C.J. Kruse, D. Salgado Manzano, A. Mudgal, J.C. Villa, D.S. Bae
Publication Date:
March 2017
Abstract:
Transportation reinvestment zones (TRZs) are a relatively new tool for infrastructure finance that allows governmental entities with taxing authority to set aside funds for local match contributions for transportation projects and capture the land value increases that result from the transportation projects. In 2013, lawmakers made TRZs available to port authorities and navigation districts, the governmental entities that operate Texas ports. TRZs work by designating the area around a needed transportation project as an impact zone and allowing the governmental entity who funded the project to capture some or all of the increment in local property and sales tax revenues that result from the growth in the zone's tax base.
This guidebook assists Texas Department of Transportation (TxDOT) staff, Texas port authorities, and local government stakeholders in understanding Port Authority TRZs--how they work and how they might be of benefit to a port authority, its surrounding community, and the U.S. and Texas State Highway Systems.
More specifically, this guidebook provides the reader with the following TRZ basics:
1. A summary of the history of the TRZ since passage of the enabling legislation and key aspects of the Port Authority TRZ legal framework that affect their implementation.
2. The potential role of Port Authority TRZs in port funding and financing.
3. Step-by-step guidance for the identification, evaluation, and implementation of Port Authority TRZs.
4. A review of key factors influencing and driving Port Authority TRZ revenue.
5. A preliminary assessment of revenue potential of a Port Authority TRZ case study.
Report Number:
0-6890-P1
Electronic Link(s):
Document/Product
http://tti.tamu.edu/documents/0-6890-P1.pdf
Publication/Product Request
TTI reports and products are available for download at no charge. If an electronic version is not available and no instructions on how to obtain it are given, contact the TTI Library.