Consult Australia has announced an international ideas contest for new large scale infrastructure projects – which could be funded by tax increment financing (TIF) – in Sydney
Backed by the University of Sydney’s Future Cities Collaborative programme, the contest seeks proposals which ‘think outside of the box’ and demonstrate TIF’s potential to positively transform Australia’s largest city.
According to the brief: ‘Value capture [also known as TIF] provides a way of funding urban renewal, infrastructure and other projects without being a burden on tax payers.
‘Your infrastructure idea will be funded based on the additional value it brings to an area over a given period. That is, enabled by government, built privately and funded through value uplift.’
The document continued: ‘Broad adoption of value capture financing in Australia will allow for a whole range of projects to be delivered that would not otherwise have been possible. This competition seeks to display those infrastructure ideas that value capture could make possible.’
Submissions will be received under the Creative Commons Attribution-ShareAlike 4.0 International (CC BY-SA 4.0) License and must include one landscape A3 PDF with no more than 250 words.
The winner will receive return flights and registration to an international conference of their choice.
The deadline for entries is 11am local time on 29 February.
How to apply
Visit the competition website for more information