Author(s):
R.M. Aldrete
Publication Date
March 2017
Abstract
Transportation reinvestment zones (TRZs) are a relatively new tool for infrastructure finance that allows government entities with taxing authority to set aside local match contributions for transportation projects and capture the land value increases that result from the transportation projects. TRZs work by designating the area around a needed transportation project as an impact zone, and allowing the government entity that built 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.
Researchers compilesd information on the legislative history, funding mechanisms, and current practices of TRZs, and identified the port authority TRZs that have been established to date. They also developed tools and guidance to assist Texas Department of Transportation (TxDOT) staff, Texas port authorities, and local government stakeholders in understandingport authority TRZs.
This research provides TxDOT and navigation districts with an understanding of port authority TRZs, their implementation process, and how they fit within the context of port funding options. Likewise, this research provides them with TRZ implementation guidance, including webinar materials, case studies, and evaluation tools. This innovative mechanism could help navigatiom districts address last-mile connectivity issues and capacity constraints, such as improvements to nearby roadways that the port does not own but used to access it.
Report Number:
0-6890-S
Link(s):
Document/Product
http://tti.tamu.edu/documents/0-6890-S.pdf
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