Malta [Public value capture of increasing property values across Europe]

Abstract

This book chapter describes the planning and administrative background, as well as the recurring and non-recurring public value capture tools in Malta. The term public value capture (PVC) is not usually referred to in Malta, and one can only find limited reference to this term in research. However, PVC tools do exist and are widely used. Recurring tools include duty on property transfer, whilst non-recurring tools include infrastructure service contribution and planning obligations. PVC tools are some of the tools used to fund public infrastructure projects. In general, one finds a good level of public infrastructure in Malta, most of it financed through national government funds as well as through EU funds. The country is on the path to improving the quality of infrastructure and public open spaces by striving for an increase in green and blue infrastructure, which aims to reinforce the drive towards a more sustainable built environment. The extension of the concept of Public Value Capture, embedded in the Planning Obligations framework, may be considered one of the tools to support such a drive. An overhaul of how planning obligations are applied is however necessary. Furthermore, Malta has long been considering mass rapid transit (MRT) as an alternative to the car-dominated landscape in the country. The financing of such a large infrastructure project has long been debated. The financing of MRT through Public Value Capture is a consideration that should enter this ongoing debate.