Development Based Land Value Capture(DBLVC)

Gerald Ollivier

The World Bank

The importance of LVC (Land Value Capture) in TOD, especially China’s TOD is quite obvious. In the acquisition of land value which is added by transportation, it is advisable to combine railway construction with new-type urbanization, combine the government-leading with market independent development and combine inventory of railway land use with comprehensive development of the old and new battlefield land. In the global practice, there are two types of LVC, one is based on taxes and the other is based on exploitation. Hong Kong realizes the LVC through mixed financing mechanism and Tokyo conducts LVC through strategy extension and strategic redevelopment. These cases have important enlightenment for China, for example, exploring land value through TOD, combining planning with financing and providing sustainable financial support for the city and urban transportation development.