The Capital Regional Planning Commission (CRPC) is leading an effort to develop a statewide toolkit that local public agencies can use to deploy “value capture” projects at the parish and town levels. Similar to what the Federal Highway Administration (FHWA) has developed at the national level, the kit will include tools such as tax increment financing, special taxing districts, business improvement districts, and impact fees.
In 2020, the CRPC, in conjunction with Louisiana DOTD began a project focused on FHWA’s Every Day Counts Round 5 (EDC-5) initiative on value capture. Broadly defined, value capture is a series of techniques available to governments and local public agencies to capitalize on the economic benefit associated with public infrastructure investments.
“We seek to develop a Louisiana toolkit which will be a more localized version of what FHWA has developed nationally. We want to be able to provide a resource that local public agencies can refer to when exploring at options to fund and finance transportation infrastructure projects in their area,” shared CRPC Planning Director Kim Marousek during the early stages of planning.
This Louisiana-focused project will result in the development of a “Louisiana Value Capture Toolkit” that will include guidance on specific tools and techniques, a legislation/legal review, and Louisiana examples of value capture projects and other resources available for implementation. CRPC is engaging Villavaso and Associates, a Louisiana-based planning firm with an extensive history of work in both the public and private sector, to develop the toolkit.
The project work plan focuses on researching the use of value capture in Louisiana and includes broad outreach to local communities and stakeholders on value capture and identifying community needs for additional transportation infrastructure funding. The planning team has generally identified the following opportunities and challenges for using value capture for transportation projects in Louisiana communities:
- Lack of knowledge of successful value capture projects.
- Size and costs of local transportation projects require multiple funding sources.
- Limitations of local revenues to support project financing.
- Local development codes/standards/manuals need updating to utilize value capture.
The planning team has conducted efforts to increase awareness on value capture through several conferences and meetings, including the Louisiana Transportation 2020 Conference hosted by DOTD and LTRC, the CRPC Commissioners Meeting, the American Planning Association six-state Cross Chapter Collaborative, and the Louisiana Planning Council. Most recently, they presented at the Louisiana Parish Engineers and Supervisors (LPESA) Spring 2021 Conference (LPESA) hosted by the Louisiana LTAP Center. The team facilitated an interactive session with live polling participated by 107 attendees.
If you would like more information about value capture in Louisiana please reach out by email to firstname.lastname@example.org and look us up at crpcla.org/value-capture.
For more information on value capture, visit www.fhwa.dot.gov/ipd/value_capture/.
The development of the initial tool kit is expected in late fall 2021.