How Copenhagen raised billions for its infrastructure — without raising taxes

Copenhagen has generated billions of dollars to invest in public infrastructure by transferring land to By & Havn, a publicly-owned, privately-run corporation, for development. The land is rezoned for commercial and residential use to boost its value, then By & Havn takes huge loans against it to be used for developing infrastructure and further increasing its value. By & Havn subsequently sells or leases the land to developers, and the revenues generated are used to service their debt. Thus, billions of dollars have been invested in infrastructure — without a raise in taxes.