Land-use agreements when the developer is not sure of infrastructure costs

Leon Taylor ()

Public Economics from EconWPA

Abstract: Planners wish to avoid a lawsuit by the developer over their cost estimates of the public works required by his project. To avoid a suit, they can offer him his choice of several sets of conditions that would attach to land-use permits. In computer simulations of five such short- and long-term contracts, the developer chooses a ``development agreement" -- characterized here as a long-term contract in which the developer pays an impact fee and obtains a freeze on taxes and regulations -- in more than 97\% of the cases.

Keywords: land; use (search for similar items in EconPapers)
JEL-codes: R52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-env
Date: 1998-10-15, Revised 2003-04-19
Note: Type of Document - LaTex; prepared on IBM PC ; to print on HP;
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwppe:9810005

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