Financing property's contribution to regeneration

Research output: Contribution to journalArticle

47 Citations (Scopus)

Abstract

Attracting investment and finance into inner-city and other renewal areas poses particular difficulties and is frequently reliant on strong public-sector commitment through special incentives or other mechanisms to provide the conditions to lever private-sector activity. This paper initially links the concept of market failure and the rationale for regeneration and examines policy responses from UK, European and US perspectives, followed by a consideration of public- and private-sector financing approaches. International perspectives draw particularly upon the use of tax-based mechanisms in regeneration-notably, those used in the US. In the European context, the paper highlights implications for regeneration stemming from the interpretation of State Aid rules and competition policy. Conclusions reflect upon the complexity of regeneration and the importance of the different stakeholders within the regeneration process.
LanguageEnglish
Pages1065-1080
JournalUrban Studies
Volume40
Issue number5-6
DOIs
Publication statusPublished - May 2003

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regeneration
public sector
private sector
competition policy
finance
aid
incentive
stakeholder
financing
market

Cite this

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title = "Financing property's contribution to regeneration",
abstract = "Attracting investment and finance into inner-city and other renewal areas poses particular difficulties and is frequently reliant on strong public-sector commitment through special incentives or other mechanisms to provide the conditions to lever private-sector activity. This paper initially links the concept of market failure and the rationale for regeneration and examines policy responses from UK, European and US perspectives, followed by a consideration of public- and private-sector financing approaches. International perspectives draw particularly upon the use of tax-based mechanisms in regeneration-notably, those used in the US. In the European context, the paper highlights implications for regeneration stemming from the interpretation of State Aid rules and competition policy. Conclusions reflect upon the complexity of regeneration and the importance of the different stakeholders within the regeneration process.",
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Financing property's contribution to regeneration. / Adair, A; Berry, J; McGreal, S.

In: Urban Studies, Vol. 40, No. 5-6, 05.2003, p. 1065-1080.

Research output: Contribution to journalArticle

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AU - McGreal, S

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AB - Attracting investment and finance into inner-city and other renewal areas poses particular difficulties and is frequently reliant on strong public-sector commitment through special incentives or other mechanisms to provide the conditions to lever private-sector activity. This paper initially links the concept of market failure and the rationale for regeneration and examines policy responses from UK, European and US perspectives, followed by a consideration of public- and private-sector financing approaches. International perspectives draw particularly upon the use of tax-based mechanisms in regeneration-notably, those used in the US. In the European context, the paper highlights implications for regeneration stemming from the interpretation of State Aid rules and competition policy. Conclusions reflect upon the complexity of regeneration and the importance of the different stakeholders within the regeneration process.

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