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NOTES

  • 1. The market value of a bond moves inversely with interest rates. In general, the further away the maturity date of the bond, the more its market price will vary with changes in interest rates.
  • 2. Public finance texts sometimes use the term "user benefit equity," meaning that with bonds, the same population that receives the benefits from the project also pays the cost of the project through the debt service on the bonds.
  • 3. State and local governments can borrow short term to smooth out the flow of funds and compensate for the fact that revenues tend to come in more irregularly than bills for expenses. These short-term borrowings include revenue anticipation notes (RANs), bond anticipation notes (BANs), and tax anticipation notes (TANs).
  • 4. Charles J. Hoch, Linda C. Dalton, and Frank S. So, eds., The Practice of Local Government Planning, 3rd edn, International City/County Management Association, Washington, DC, 2000, p. 418.
  • 5. There is almost no flow in the opposite direction.
  • 6. There is an extensive literature on intergovernmental grants. For an overview, see Ronald C. Fisher, State and Local Public Finance, Thomson South-Western, 2007.
  • 7. For an account of the subdivision process, see Hoch, et al., eds., The Practice of Local Government Planning, ch. 14.
  • 8. For a general account of the zoning process, see ibid., ch. 14.
  • 9. William A. Fishel, The Economics of Zoning Laws: A Property Rights Approach to American Land Use Controls, Johns Hopkins University Press, Baltimore, MD, 1985.
  • 10. To pursue the matter of profit and loss from changes in zoning, see Donald G. Hagman, Den J. Misczynski, Madelyn Glickfield et al., eds., Windfalls for Wipeouts: Land Value Capture and Taxation, American Society of Planning Officials, Chicago, IL, 1978.
  • 11. "Operation Rezone Brings Prison Terms, More Trials," Planning, October 1996, pp. 20-21.
  • 12. Other criteria may sometimes be used, particularly for commercial property. For example, assessors may use estimated cost of replacement or income-generating potential.
  • 13. When fractional assessment is used, an "equalization rate" is generally computed so that the assessed value can be converted into "full value." This is particularly important when funding such as state aid for public education is conditioned by the

property tax base of the receiving community. In recent years there has been a general trend toward full value assessment to avoid such complications.

  • 14. Typically, properties owned by nonprofit institutions, as well as properties owned by government itself, are exempt from property taxation.
  • 15. Jane Jacobs, The Death and Life of Great American Cities, Vintage Books, Random House, New York, 1961. See, in particular, the section titled "The Conditions for City Diversity."
  • 16. Kirk Johnson, "Where a Zoning Law Failed, Seeds of a New York Revival," New York Times, April 21, 1996, p. 1.
  • 17. For an example of the use of transfer of development rights in regard to historic preservation, see "Large Tower Would Use Depot's Rights," New York Times, September 17, 1986, sec. B, p. 1. See also George M. Raymond, "Structuring the Implementation of Transferable Development Rights," Urban Land, July- August 1981, pp. 19-25. For recent uses in a number of jurisdictions, see Rick Pruetz, AICP, Saved by Development: Preserving Environmental Areas, Farmland, and Historic Landmarks with Transfer of Development Rights, Planners Press, American Planning Association, Chicago, IL, 1997.
  • 18. Rick Pruetz and Noah Standridge, "What Makes Transfer of Development Rights Work? Success Factors from Research and Practice," Journal of the American Planning Association, vol. 75, no. 1, winter 2009, pp. 78-88.
  • 19. Lisa Chamberlin, "Open Space Overhead," Planning, March 2006, pp. 10-11.
  • 20. See Seymour I. Schwartz and Robert A. Johnston, "Inclusionary Housing Programs," Journal of the American Planning Association, vol. 49, no. 1, winter 1983, pp. 3-21. See also Barbara Taylor, "Inclusionary Zoning: A Workable Option for Affordable Housing," Urban Land, March 1981, pp. 6-12; and Gus Bauman, Anna Reines Kahn, and Serena Williams, "Inclusionary Housing Programs in Practice," Urban Land, November 1983, pp. 14-19.
  • 21. Gail Easley, "Performance Controls in an Urban Setting," Urban Land, October 1984, pp. 24-27. See also Tam Phalen, "How Has Performance Zoning Performed?," Urban Land, October 1983, pp. 16-21.
  • 22. "Tallahassee's Performance Zoning Gives Way to Euclid," Planning, December 1997,

p. 26.

  • 23. For a relatively early presentation on the subject, see Peter Katz, "Form First: The New Urbanist Alternative to Conventional Zoning," Planning, November 2004. Current material on the subject may be found on the website of the Congress for the New Urbanism.
  • 24. Andres Duany and Emily Talen, "Transect Planning," Journal of the American Planning Association, vol. 68, no. 3, summer 2002, pp. 245-266.
  • 25. Donald L. Elliot, A Better Way to Zone: Ten Principles to Create More Livable

Cities, Island Press, Washington, DC, 2008, p. 33.

  • 26. Fred Bosselman and David Callies, The Quiet Revolution in Land Use Controls, Council for Environmental Quality, Superintendent of Documents, U.S. Government Printing Office, Washington, DC, 1973, p. 1.
  • 27. An economist's term which refers to effects that are visited on "third parties," that is, parties who are not participants in the transactions and whose interest, therefore, may not be taken into account by the participants in the transaction.
 
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