Can the market be tamed? A thought experiment on the value(s) of planning

Lord, Alexander; Gu, Yiquan

doi:10.1177/0308518x18784600

Cited by 10 publications

(8 citation statements)

References 64 publications

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“…The paper proceeds as follows. First, we discuss how planning has been influenced by theories and methods from economics, using this discussion to frame the conception of planning and markets as interrelated, rather than opposing, spheres (Alexander, 2001a;Adams and Tiesdell, 2010;Lord and O'Brien, 2017;Lord and Gu, 2019). Second, we consider the relationship between planning and risk, and the treatment of risk by planning agencies, noting the potential utility of institutional analysis to address these issues.…”

Section: Introductionmentioning

confidence: 99%

How do planners manage risk in alternative land development models? An institutional analysis of land development in the Netherlands

2020

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While risk is a key concern in property development, it tends to be discussed by planners only relative to the effects of regulatory planning on private sector risk. Yet planning encompasses a broad range of activities that go beyond its function of regulating private sector development. Despite active approaches to land development being commonly used across different planning contexts, frameworks for analysing public sector strategies to address risk are rarely discussed. We attempt to redress this deficit by investigating the actions of public sector development actors with regard to risk across three different land development models: public land development, land development by public-private partnership, and land readjustment. Using recent Dutch experience, we conduct an institutional analysis of each land development model in order to highlight the effects of alternative governance structures on risk as a particular transaction attribute, from the perspective of public sector planning. Our findings indicate the importance of highlighting the role of public risk in alternative models of land development where there may be a tendency to adopt institutional arrangements without due regard to this, and point to possible future applications of institutional analysis at the particular, rather than the general, level.

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Section: Introductionmentioning

confidence: 99%

How do planners manage risk in alternative land development models? An institutional analysis of land development in the Netherlands

2020

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“…This raises the issue of the behavioural economics of the whole process. If we proceed with the reasonable assumption that developers will favour those sites where development viability is most conspicuous and assemble a strategy accordingly, we must also consider how local authorities might respond (Lord and Gu, 2018). Which authorities are most likely to adopt CIL?…”

Section: Playing the Viability Charadementioning

confidence: 99%

Understanding the geography of affordable housing provided through land value capture: Evidence from England

2021

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Governments the world over routinely undertake Land Value Capture (LVC) to recover some (or all) of the uplift in land values arising from the right to develop in order to fund infrastructure and public goods. Instruments to exact LVC are diverse but are usually implemented independently. However, since 2011 England has been experimenting with a dual approach to LVC, applying both a tariff-style levy to fund local infrastructure (the Community Infrastructure Levy) and negotiated obligations, used primarily to fund affordable housing (Section 106 agreements). In this article we employ a difference-in-differences (DID) method to identify the interaction of these two instruments available to local planning authorities. We explore the question of whether the Community Infrastructure Levy ‘crowds out’ affordable housing secured through Section 106 planning agreements. In so doing we show that the interaction of these two approaches is heterogeneous across local authorities of different types. This raises questions for understanding the economic geography of development activity and the theory and practice of Land Value Capture.

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“…Immergluck (2011) criticized the US federal support and deregulation that allowed predatory aspects of global capital to expand in neighborhoods and communities. Lord and Gu (2019) argued that normative principles be reconciled to the market and with government policy.…”

Section: Literature Reviewmentioning

confidence: 99%

Tax deed sales and land banking to reuse vacant and abandoned properties

Fujii

2020

IJHMA

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Purpose Tax sales intersect with the market, housing policy and socioeconomic matters, but the topic in this context is understudied. The purpose of this paper is to investigate whether and how land banking is more effective in fostering positive property outcomes than tax lien sales and what market-based measures can be combined with land banking to reuse tax delinquent, vacant and abandoned properties. Design/methodology/approach This paper analyzes the consequences of tax lien sales and land banking in Indianapolis, Indiana, the USA. Various local data sources are used. Findings This paper finds that land banking, when compared to tax lien sales, results in less tax delinquency, less vacancy and abandonment, more increase in assessed value and fewer ownership changes after sales. Also, this paper shows the contributions of non-profit and for-profit developers as business partners to land banks. Practical implications This paper demonstrates the utility of the land banks that have become prevalent in some states in the USA over the past 20 years. The results of this paper recommend the realistic approach of combining government intervention and market forces. Social implications This paper sheds light on the US practice of tax lien sales. It goes largely unnoticed, but malpractice risks harming the vulnerable members of community. Originality/value Housing policy needs to find common ground with the market. It is a dilemma, more or less, for every country. The results of this paper suggest a harmonized public policy approach that includes land banking and the market can be effective in combatting with troubled properties.

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Can the market be tamed? A thought experiment on the value(s) of planning

Cited by 10 publications

References 64 publications

How do planners manage risk in alternative land development models? An institutional analysis of land development in the Netherlands

How do planners manage risk in alternative land development models? An institutional analysis of land development in the Netherlands

Understanding the geography of affordable housing provided through land value capture: Evidence from England

Tax deed sales and land banking to reuse vacant and abandoned properties

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