economic development - The New School SCEPA
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. Research from SCEPA’s Critical Public Finance project published in the Journal of the American Planning Association (JAPA) offers a new frame to evaluate TIF projects based on the tool’s potential to create, capture, & destroy value.
Working Paper - TIF’s self-financing rhetoric can be used to shift risk onto taxpayers.
Much like the United States, the Brazilian government was slow to react to the virus, and Brazil joined us as one of the global epicenters of COVID-19 cases and deaths. New research shows that, also like the States, pre-existing inequities in living and working conditions along racial, educational, and class lines are at the root of the higher infection and mortality rates observed in low-income and non-white communities. The research also shows that without government aid, COVID exacerbates inequality.
Our ongoing video series, SCEPA Responds, brings together expert economists, professors, fellows, and research associates to discuss current economic issues and challenge economic doctrines that create systemic inequity. The series focuses on areas such as race, monetary and fiscal policy, and economic growth and crisis, to provide insights for working families, older workers, the working poor, minorities, and more.
Rather than being "self-financing," New York's Hudson Yards project cost the city $2.2 billion in costs, largely due to tax breaks provided by the city to incentivize development and standard development risks and costs.