This discussion paper's lead author is James McIntosh from the Curtin University Sustainability Policy (CUSP) Institute, and he has prepared this paper as part of his PhD through which he is developing a ‘Comprehensive Assessment Framework for Valuing Transport Infrastructure Projects.’ The other co-authors of the research paper were: Professor Peter Newman Curtin University Sustainability Policy Institute Tim Crane Corview Group Dr Mike Mourtiz City of Canning © Curtin University Sustainability Policy Institute, Corview Group and Committee for Perth Published December 2011 Committee for Perth Limited Ground Floor, 996 Hay Street, Perth WA 6000 t (08) 9481 5699 f (08) 9481 7738 e
[email protected] w www.committeeforperth.com.au Curtin University Sustainability Policy (CUSP) Institute 3 Pakenham Street, Fremantle WA 6160 Corview Group Pty Ltd PO Box 170, Grange QLD 4051 Discussion Paper: Alternative Funding Mechanisms for Public Transport in Perth: the Potential Role of Value Capture Synopsis 4 Executive Summary 5 1. Introduction 12 2. Why do we need to focus on public transport? 13 3. What is value capture? 15 3.1 Introduction to value capture............................................................................. 15 3.2 International research on the impact of transit on property values ................... 16 3.3 The accessibility impacts on property values – Australian context ................... 19 4. Why are value capture mechanisms needed? 20 5. What are the plans for Perth’s public transport and centres? 22 6. What are the suggested alternative funding mechanisms in the Public Transport Plan for Perth in 2031? 25 6.1 Short term Perth PT Plan funding mechanisms................................................ 25 6.1.1 Public private partnerships......................................................................