General framework and criteria for setting redevelopment priorities and developing strategies to enable and accelerate successful redevelopment.
The framework incorporates economic, environmental and social factors in evaluation of the marketability and community benefits of brownfield site redevelopment. 21
FRAMEWORK FOR SUCCESSFUL REDEVELOPMENT
1. Target Geographic Areas
I.Mixed use areas with highly exposed, low income, minority populations
II.Industrial areas with large land tracts and significant job creation potential.
III.Waterfront/ CBD areas that are attractive to businesses
2.Identify Sites in Each Geographic Area
1.Use local knowledge and land use surveys
2.Contact local economic development offices
3.Coordinate with city urban planning activities
4.Use National and state environmental databases
5.Use GIS to incorporate a variety of data sources
3.Characterize Sites Based on Marketability
1. Low Marketability; public funding necessary.
2.Marketable for specialized developers; could make use of alternative funding sources. (Public-private partnerships)
3.Highly Marketable; traditional sources of funding. (Private sector takes the lead)
4.Screen Sites for High Potential Community Benefits
1.Neighborhood Characteristics : Poverty rate, Unemployment rate
2.Site Characteristics : Potential Human Health and Environmental Risks, Market value
3.Redevelopment Plan Characteristics 1.Economic return : Redevelopment has potential to generate revenues for the community (taxes, profits). 2. Social return : Redevelopment has potential for job creation, neighborhood revitalization, improved aesthetics, and other business opportunities. 3.Timeframe :Reasonable time period for completion of project in order for benefits to be realized by current area residents. 4. Partnerships : Partnerships between local governments and stakeholder groups may enable projects to progress more quickly and smoothly.
5.Evaluate Potential Impacts of Redevelopment Alternatives
1.Environmental Benefits : Reduced health risks, Prevention/Reduction of air pollution (mobile source emissions)
2.Economic Benefits :Job creation and potential for higher incomes, Improve labor market efficiency, Increased tax revenues
3. Social Benefits : Increase in easily accessible services, Affordable Housing Improved city services
4.Social and Environmental Costs
5.Economic Costs
6.Develop Strategy for Redevelopment Activities
1.Work with multi-stakeholder groups to establish priorities for public funding efforts and an action plan.
2.Work with multi-stakeholder groups to establish priorities for development projects and to identify a diverse base of funding sources.
3.Coordinate with development and environmental agencies to market sites, streamline development process, and manage community involvement.
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Urban Development Management Study notes for M. plan Sem-III
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