Colombia Land Value Capture Study
World Bank
HR&A’s work with the World Bank catalyzed Colombia’s adoption of Tax Increment Financing as a national urban development tool. Leading a team of local lawyers and planners, our case study research and policy roadmap informed Colombia’s National Development Plan 2018-2022 and equipped municipalities with frameworks to capture land value for infrastructure investment.
Colombia sought to enhance land value capture mechanisms but needed practical guidance on implementation. HR&A led research on six case studies examining value capture approaches in Colombia and New York, analyzing how different mechanisms could be adapted while incentivizing private sector participation. We developed a project finance roadmap supporting municipalities and the National Government with regulatory, operational, institutional, and financial frameworks for effective implementation.
HR&A convened meetings with national ministries and the Departamento Nacional de Planeación to share recommendations and guide policy development. Our analysis directly influenced the inclusion of Financiación por Incremento del Recaudo del Impuesto Predial in Colombia’s 2018-2022 National Development Plan as an instrument to finance urban regeneration. This work informed the World Bank’s comprehensive report on land management and urban financing instruments, establishing frameworks that continue guiding implementation nationwide.
