SAVVY CITY FINANCING SUPPORTS FUTURE INFRASTRUCTURE.

The city of Santa Monica, an affluentcommunity in western Los AngelesCounty, CA, has a land area of about 8.4square miles (21.8 square kilometers) anda population of more than 90,000, but itsworkday and weekend populations swellconsiderably. CAPTURING VALUE FROM JOINT DEVELOPMENT Public-private partnerships are a feature ofjoint development, another value capturetechnique that describes a public agency or agroup of agencies that partner with a privatedeveloper to improve the use of land near,above, below, or adjacent to infrastructure. "For Santa Monica, value capture inthe ROW is central to our efforts to adoptinnovation-driven policy updates that arekey to our local transportation strategy", saysCarter. "When you startthinking about potential funding sources fora project, it's probably a good time to startthinking about value capture and exploringwhat value capture options might fit in withyour funding and financing plan.". [Extracted from the article]