Value Capture Implementation Manual

August 2019
Table of Contents

List of Figures

List of Tables

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This document is disseminated under the sponsorship of the U.S. Department of Transportation (USDOT) in the interest of information exchange. The U.S. Government assumes no liability for the use of the information contained in this document.

The U.S. Government does not endorse products or manufacturers. Trademarks or manufacturers' names appear in this report only because they are considered essential to the objective of the document.

Quality Assurance Statement

The Federal Highway Administration (FHWA) provides high-quality information to serve Government, industry, and the public in a manner that promotes public understanding. Standards and policies are used to ensure and maximize the quality, objectivity, utility, and integrity of its information. FHWA periodically reviews quality issues and adjusts its programs and processes to ensure continuous quality improvement.

Technical Report Documentation Page
1. Report No.
2. Government Accession No. 3. Recipient's Catalog No.
4. Title and Subtitle
Value Capture Implementation Manual:
Capitalizing on the Value Created by Transportation
5. Report Date
August 2019
6. Performing Organization Code
7. Author(s)
Daniel D'Angelo, Applied Research Associates, Inc.; Tayo Edun, Pauline Hovy, Herb Ladley, and Sasha Page, IMG Rebel Advisory, Inc.; Thay Bishop and Stefan Natzke, Federal Highway Administration
8. Performing Organization Report No.
9. Performing Organization Name And Address
Federal Highway Administration
Office of Innovative Program Delivery
1200 New Jersey Ave. S.E.
Washington, DC 20590
10. Work Unit No. (TRAIS)
11. Contract or Grant No.
DTFH6113D00023 / 693JJ318F000237
12. Sponsoring Agency Name and Address
Federal Highway Administration
Office of Policy and Governmental Affairs
1200 New Jersey Avenue, S.E.
Washington, DC 20590
13. Type of Report and Period
Final Report, August 2018-August 2019
14. Sponsoring Agency Code
15. Supplementary Notes
A Technical Working Group of public, private, and academic subject matter experts assisted the contractor and the FHWA Every Day Counts Value Capture Implementation Team in the development of this Manual.
16. Abstract
This document provides information for State departments of transportation and local public agencies to consider implementing value capture. It covers value capture techniques and features, including developer contributions, transportation utility fees, special taxes and fees, tax increment financing, joint development, and naming rights. It includes options for making the business case for value capture, as well as overviews of the regulatory framework involved and risk management. Several case studies and examples are provided.
17. Key Words
Value capture, highway finance, transit finance, innovative finance, public-private partnerships, real estate, transit-oriented development
18. Distribution Statement
No restrictions
19. Security Classif. (of this report)
20. Security Classif. (of this page)
21. No. of Pages
22. Price
Form DOT F 1700.7 (8-72) Reproduction of completed page authorized


The Federal Highway Administration (FHWA) would like to express appreciation to the following members of the Value Capture Implementation Manual Technical Working Group and acknowledges their valuable contribution of expertise and guidance throughout the development of this manual:

Jennifer Ahlin
Virginia Department of Transportation

Rafael Aldrete
Texas A&M Transportation Institute

William Ankner
Transportation Solutions

Rabinder Bains
Federal Transit Administration

Barry Benton
Greenman-Pedersen, Inc.

Jason Bittner
Applied Research Associates, Inc.

Andrée Blais
Nossaman LLP

Eric Bourassa
Metropolitan Area Planning Council (Boston)

Ken Buckeye
Minnesota Department of Transportation

Daniel D'Angelo
Applied Research Associates, Inc.

Steve DeWitt
ACS Infrastructure Development, Inc.

Lisa Dickson
Arup Americas

Tayo Edun
IMG Rebel

Michael Garvin
Virginia Tech

Herb Ladley
IMG Rebel

David Leininger
Leininger Analytics

Ben Orsbon
South Dakota Department of Transportation

Catherine Owens
Atlanta BeltLine, Inc.

Sasha Page
IMG Rebel

Tom Pelnik
Ernst & Young Infrastructure Advisors

Kishia Powell
City of Atlanta, Georgia

Sharada Vadali
Economic Insights and Research

Michael Weaver
Prime Strategies, Inc.

Gregory Wilkens
Butler County, Ohio

List of Acronyms and Abbreviations

ABI - Atlanta BeltLine, Inc.

BATIC - Build America Transportation Investment Center

BID - business improvement district

CDOT - Colorado Department of Transportation

CFR - Code of Federal Regulations

DOT - Department of Transportation

FHWA - Federal Highway Administration

FONSI - finding of no significant impact

GDOT - Georgia Department of Transportation

KPI - key performance indicator

LEADER - Landowners Economic Alliance for the Dulles Extension of Rail

LID - local improvement district

MARTA - Metropolitan Atlanta Rapid Transit Authority

MoDOT - Missouri Department of Transportation

MoU - memorandum of understanding

MWAA - Metropolitan Washington Airports Authority

NEPA - National Environmental Policy Act

O&M - operations and maintenance

ODOT - Ohio Department of Transportation

P3 - public-private partnership

RRIF - Railroad Rehabilitation and Improvement Financing

SAD - special assessment district

SIB - State Infrastructure Bank

TAD - tax allocation district

TDD - transportation development district

TID - transportation improvement district

TIF - tax increment financing

TIFIA - Transportation Infrastructure Finance and Innovation Act

TRZ - transportation reinvestment zone

TUF - transportation utility fee

UBS - Union Bank of Switzerland

UDOT - Utah Department of Transportation

USDOT - U.S. Department of Transportation

VDOT - Virginia Department of Transportation


Cover photos source: FHWA All images in the document are sourced from FHWA, unless otherwise noted. Some of the map figures in this document were modified. The original maps used for Figure 23 on page 164, which includes overlays showing the location of the cap built over I-670 in Columbus, OH, and at left in Figure 25 on page 165 are the copyright property of Google® Earth™ and can be accessed from

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