Land-use agreements when the developer is not sure of infrastructure costs
AbstractPlanners 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.
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Bibliographic InfoPaper provided by EconWPA in its series Public Economics with number 9810005.
Date of creation: 15 Oct 1998
Date of revision: 24 Oct 1998
Note: Type of Document - LaTex; prepared on IBM PC ; to print on HP;
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Find related papers by JEL classification:
- R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
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- Leon Taylor, 1998. "When will the developer pay an impact fee?," Public Economics 9810004, EconWPA, revised 19 Apr 2003.
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