> If they use that one-shot money for running expenses rather than investments (in e.g. subways), then the town will go bankrupt when there are no new buyers of parcels.
This is what happened to Mississauga, Canada (a suburb of Toronto): for the last fifty years builders had to pay developer charges which was used to build the initial infrastructure.
However things were constructed in a typical North American, car-centric fashion. Now that most of the available land is covered in large-plot, low-density housing, they kind of realized the money train has reached its destination and they now have to maintain all of this infrastructure.
The same mayor (Hazel McCallion) was re-elected over and over for forty years, and so the same kind of thinking was perpetuated over that time period because no fresh thinking was introduced and things basically ran on inertia. She is often labelled the "Queen of Sprawl".
There are of course some plots left, and over the past few years they've been building medium-density townhomes, as well as more and more mid- and high-rise towers.
This is what happened to Mississauga, Canada (a suburb of Toronto): for the last fifty years builders had to pay developer charges which was used to build the initial infrastructure.
However things were constructed in a typical North American, car-centric fashion. Now that most of the available land is covered in large-plot, low-density housing, they kind of realized the money train has reached its destination and they now have to maintain all of this infrastructure.
The same mayor (Hazel McCallion) was re-elected over and over for forty years, and so the same kind of thinking was perpetuated over that time period because no fresh thinking was introduced and things basically ran on inertia. She is often labelled the "Queen of Sprawl".
* https://www.theglobeandmail.com/news/toronto/how-hazel-mccal...
* https://archive.is/DpKKp
There are of course some plots left, and over the past few years they've been building medium-density townhomes, as well as more and more mid- and high-rise towers.
* https://www.insauga.com/is-hazel-mccallion-wrong-on-this-hug...
* https://torontostoreys.com/issue-of-the-year-mississauga/