Business
Western United and a local council are building a $150 million football stadium essentially out of thin air, thanks to a concept called value capture – ABC News
The concept of ‘value capture’ could help pay for much-needed infrastructure, by taking a small portion of the windfall gains developers receive when governments…
Western United has kicked goals in the A-League, almost making the grand final in its debut season.
Key points:
- Value capture can help pay for big infrastructure projects by taxing the future rise in the value of land ahead of time
- It’s allowed the Western United’s $150 million stadium to be built without state or federal funding
- Property groups say land is taxed enough: 25 per cent of the cost of a ‘greenfield’ site is paid in tax
But it is off the field where they are having an even bigger impact,…
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