2 ms·
>should they also receive payments from property owners when a rule change increases the value of a property? Yes, this is called "value capture." Bargaining w
by closeparen 7y ago
>should they also receive payments from property owners when a rule change increases the value of a property?
Yes, this is called "value capture." Bargaining with developers to extract concessions like affordable units (BMR), community spaces (POPOs), neighborhood maintenance (CBDs), and donations to anti-development activist groups is the bread and butter of development politics.
Since developers are universally and vigorously despised, this is a great source of funding. If a project still pencils out, the community gets some extra services without having to raise taxes. And if the project doesn't pencil out anymore, the community is usually happy about that too.