WORKING PAPER | A report by SCEPA researcher Bridget Fisher and co-author Flávia Leite analyzes New York State’s proposal to redevelop Penn Station using a version of value capture financing.

ARTICLE | Value capture schemes sound simple in theory – future revenues pay debt issued to cover upfront costs. But in practice, these financing mechanisms are highly complex and, as a result, can have unintended consequences on municipal finances.

WORKING PAPER | New York City's Hudson Yards project includes heavily discounted property taxes for Hudson Yards developers.

WORKING PAPER | TIF’s self-financing rhetoric can be used to shift risk onto taxpayers.