Value Recapture: A Rose by Another Name

The fuel crisis, increased federal funding, and urban center development and redevelopment are all increasing the pressure for rapid transit systems in urban areas. As with other publicly funded developments, such systems often lead to an increase in value of privately owned land near transit stations. This is due to the enhanced commercial, industrial, and residential development potential created by superior access and concurrent generation of intense local activity. Such an increase in value is unearned-a windfall, in essence. Arguably, it should accrue, at least in part, to the public agency which incurred substantial expenditures in developing the public facility-the cause of the value increase in the first place. Such an accrual of value could be offset against the public cost of the improvement. This article deals with several proposed methods of such “value recapture”: “excess” or “supplemental” condemnation, tax assessment, intergovernmental cooperation and air rights development.     

The “Indo-Pacific”—New Regional Formulations and New Maritime Frameworks for US-India Strategic Convergence

This article argues three things. First, it argues that at the conceptual level there has been a strategic rediscovery of a maritime regional framework, the Indo-Pacific. Second, it argues that at the policy level there is a significant regional security convergence, a degree of strategic balancing, between India and the United States in this Indo-Pacific. Third, it argues that at the causal level there is a common maritime challenge from China faced by India in the Indian Ocean and by the United States in the Pacific Ocean, a common Indo-Pacific strategic challenge which is generating this significant US-India naval convergence. In order to deal with such matters, the article looks at the strategic discourse employed around the concept of the Indo-Pacific, and the related maritime assets deployed in the Indo-Pacific by the United States and India.