Spontaneous allocation through transferable development rights in urban regeneration projects : A research to gain more knowledge about the influence of CEPAC transferable development rights on the allocation of real estate development, their side-effects and the possibilities in the Dutch context

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2013-10
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en
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Abstract
This research aims to contribute to the international planning context through new insights in the use of transferable development rights, based on the CEPAC system in Brazil. It has been performed in the scope of an international changing planning context with the city as a central place in the society, a shifting responsibility for planning towards the market, greenfield development traded in for inner-city redevelopment and towards strategic planning approaches. The outcomes for this research can be useful to critically reflect on the current the approach in Brazil and for adaptations on TDR systems in new and existing contexts. In Sao Paulo has the CEPAC system been introduced to capture value from real estate developments. CEPACs are transferable additional development rights and are sold in public auctions. The revenues are used to finance public infrastructure within the project area. CEPAC transferable development rights are used in line with the property rights approach. The owner of the CEPAC right should become the residual claimant over the rights through the inclusion of externalities by using the subsidiarity rule to achieve a total welfare optimum. The research has been performed within two changing planning contexts, Brazil and the Netherlands, between March 2013 and September 2013. It has studied the use, effects and possibilities for CEPACs through relating these rights to the property rights approach and spontaneous allocation, based on Webster & Lai (2003). The research has been performed through four case studies, desk research, four exploring interviews and 16 semi-structured interviews to peer into the effects and possibilities of TDR.
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Faculteit der Managementwetenschappen