Community redevelopment refers to the process of re-designing and re-constructing existing community infrastructure, to support new public and private investment in specific neighborhoods and defined project areas.
Community redevelopment is typically pursued by local municipalities acting as public bodies, or in collaboration with private developers through public-private agreements. Community redevelopment usually proceeds with stated goals and objectives for such hoped-for results as elimination of blight, stabilization of property values, creation of jobs, and/or to bring new multiplier-effect spending into a local economy.
There are also instances where community redevelopment was pursued to create an asset of strategic value to a community or region. An example that has been popular over the years, is the incentivization provided for the construction of a convention hotel for a community seeking to bring meetings and conventions.
Redevelopment Defined
Local community redevelopment is often a vital aspect of local economic development, with the authority of management and control vested in local communities. Local agencies typically focus on decent housing and genuine growth and improvement of employment opportunities. Local community redevelopment often involves blighted areas deemed requiring public intervention, as well as the redeployment of surplus properties long held by Federal or State agencies and available for local economic development.
Throughout the U.S., the Federal Government's closure of military bases has created opportunities at the local community level to spur economic growth through re-use of what in many cases are major assets. In some cases just as significant, many communities are now working with private-sector companies in redeploying obsolescent manufacturing and factory sites.
Specifically, using California as an example, redevelopment as defined is intended to rescue "blighted areas which constitute either physical, social, or economic liabilities, requiring redevelopment in the interest of the health, safety, and general welfare" of the affected communities and the state. With respect to redevelopment?s role with respect to military base closures, the legislature found it necessary to provide specific, extraordinary means of "mitigating the economic and social degradation" faced by affected communities.
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