Loped land has been observed as a crucial source of revenue; a so-called “rail plus property” model represents a financially viable resolution for the public capture of elevated land value resulting from public investment [17,31]. Having said that, this property-oriented financing model has been facing growing challenges because the stock of accessible land continues to shrink, and land granting and the turning more than of zoning energy in the public towards the transit agencies have incurred general society’s suspicion of corruption [9,38,48,49]. A realistic implication for future railway financing is always to explore alternative LVC tools and to prepare a versatile LVC menu for a complete decision-making assessment. Within the longer term, tax-based instruments (for instance house tax) may adapt towards the land transfer restriction problem, enabling railway investors to share the financial improvement fruits of the railway project within the type of higher productivity, house improvement, as well as the improve of revenue [50]. Land adjustment may very well be one more promising policy instrument for the reason that it is efficient in facilitating large-scale urban redevelopment programs, as certified by profitable applications in Japan, Korea, Germany, Spain, plus the Netherlands [7]. For the intercity railway system, a reconfiguration of several stakeholders’ roles amongst governments, transit agencies, and genuine estate developers could be vital in the initial stage. In reality, some innovative institutional moves have already been taken. In some cities, new governmental bodies have already been established to handle regional transport organizing and financing: these agencies work closely with state (in France as well as the UK), provincial (in Canada), and city (in San Francisco) governments to develop taxation instruments for the LVC [9]. From the viewpoint of intergovernmental collaboration, the establishment of a brand new LVC institution is thought to become important in carrying out ex-ante Hydroxyflutamide Antagonist assessment and decision-making, to facilitate the engagement of critical stakeholders in mega transport projects which include the HSR, and to reconcile the conflicts of interest amongst the involved entities [10,23]. Inside the future, how these institutions will contribute towards the implementation of LVC, and how they are able to receive and enforce their power via the energy relation framework are interesting subjects worth continuous academic interest.Author Contributions: Conceptualization, W.G. and M.K.N.; information curation, W.G.; formal analysis, W.G.; funding acquisition, J.L.; methodology, W.G.; supervision, J.L.; validation, M.K.N.; visualization,Sustainability 2021, 13,15 ofW.G. and J.L.; writing–original draft, W.G. All authors have study and agreed for the published version with the manuscript. Funding: This research was funded by the United College Endowment Fund Analysis Grant #CA11307. Conflicts of Interest: The authors declare no conflict of interest.
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