The Metropolitan Transportation Commission (MTC) has provided a new path for funding in Plan Bay Area 2040: value capture. Value Capture is the term used to describe a system whereby a government agency taking steps that increase the value of local property can share in that increase. Property owners agree to pay an assessment to fund projects such as roads, street lighting, parking or like improvements, and see property value increases that allow them to recover more than the cost of the assessment.
Projects that are not fully funded can now include value capture revenue opportunities as a funding source, and can be included in the Plan Bay Area 2040 Regional Transportation Plan. MTC published a Value Capture Toolkit, prepared by Strategic Economics, designed to encourage the use of value capture for projects included in Regional Transportation Plan.