INTEGRATING LAND VALUE CAPTURE INTO INFRASTRUCTURE INVESTMENT PLANNING IN SOUTH AFRICA: A LOCAL GOVERNMENT FRAMEWORK

Faranani Gethe and Prisca Simbanegavi

AfRES from African Real Estate Society (AfRES)

Abstract: South Africa experiences fiscal constraints and economic contraction as a major hindrance to delivering the much-needed infrastructure development to meet the needs of a growing population and rapid urbanisation. The traditional method of funding infrastructure development by the government is overwhelmed and there is an urgent need to use alternative funding models such as Land Value Capture. Currently, this process is disintegrated in South Africa, therefore the aim of this study is to draw up guidelines towards the successful implementation of Land Value Capture using planning gain and investment theories. To do this the study analyses key relevant documents such as South African legislation and policy documents to make a comparison between conceptual guidelines developed and the findings of the document analysis. The study adopted a qualitative method in which five key relevant documents were randomly selected based on conceptual framework and research questions and analysed using content analysis and the conceptual guidelines are used as themes. Findings from document analysis are discussed how they compare, support and conflict with conceptual guidelines to draw up a more refined and evidence-based guidelines towards successful implementation of Land Value Capture. The relevance of this study lies in the fact that the South African government need to expedite infrastructure developments previously curtailed by apartheid systems. As urbanisation rises rapidly, the South African government is required to find effective ways to drive economic growth that is anchored in the imperatives of inclusive cities. The paper finds that there is significant inconsistencies on how LVC is currently being implemented (according to the document analysis) and how the conceptual framework in this study appraise it to be implemented, it further recommends a guideline towards successful implementation.

Keywords: Government affordability; Land Value Capture; Public-Private-Partnership; Value Creation; Cost recovery; Infrastructure investments; Local government. (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2022-01-01
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:afr:wpaper:2022-034

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