Public Value Capture: Who should benefit of increasing property values?
The shortage of financial resources is a Europe-wide problem. Coming out of the economic and financial crisis, countries as well as municipalities have decreasing means to fulfil all their public commitments. Urbanization requires increasing funding for public infrastructure and services, which in most cases leads in turn to rising land prices for urban properties. So, should those who benefit from it share some of the costs? How would that effect development and progress? What are the most appropriate ways to do so?
A group of European researchers representing over 30 countries, is devoted to exploring the economic, social, geographical, planning, and legal aspects of optimizing the allocation of costs and benefits in urban settings. This project aims to use theoretical knowledge to provide practical set of policy recommendations for local and regional societies facing with increasing property values and distributive justice dilemmas. Implementation of such tools could lead to a better balance between private and public considerations and to a more and socially sustained societies.
The COST Action “Public Value Capture of Increasing Property Values” is funded by the European Cooperation in Science & Technology. It began in 2018 and is expected to conduct a 4-year framework. The project will offer academic scholars, regulators and governments’ officials from different countries, as well as non-governmental organizations and general public a focal platform for innovative suggestions on this matter.
For further details: www.puvaca.eu
