new york city - 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.
In a forthcoming book about cities and inequality, SCEPA Senior Fellow Rick McGahey examines how economists think about cities, what they typically leave out, and what this tells us about the future for urban hubs such as New York City.