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Investment in infrastructure three pillars of city resilienceKEY REQUIREMENTS / IMPLEMENTATION FACTORS
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səhifə | 15/22 | tarix | 22.03.2024 | ölçüsü | 55,06 Kb. | | #180534 |
| LVC overview June6KEY REQUIREMENTS / IMPLEMENTATION FACTORS
Larger urban areas with strong real estate markets maintaining enough demand and growth potential for high-density development Relatively deep capital markets for realization of schemes similar to CEPACs Rigid land use controls, property records (cadaster) and property appraisal systems have to be in place
Sale of Development Rights: Lessons Learned
INVESTMENT IN INFRASTRUCTURE
OPPORTUNITIES
CHALLENGES
- Direct revenue source that may generate cash for front-funding or expedited cost recovery of infrastructure projects – i.e. positive fiscal impact
- More liquid revenue source than sale of land rights
- Sale of development rights better mitigates the risks of loss of control over land use (relative to selling land title alone)
- Restricted applicability, i.e. may not work in the secondary markets where demand for higher density development is not strong enough
- Vulnerable to macroeconomic conditions (more than many other LVC tools)
- For efficient and equitable implementation, strong and transparent land use controls are prerequisite
Sale of Development Rights: Sampled Project
INVESTMENT IN INFRASTRUCTURE
Project Description
Revitalization of underutilized Guanabara Bay waterfront (mostly government-owned port and near-port lands) into a brand new mixed-use, mixed-income community. The main rationale is the regeneration of this heavily underserviced area in the heart of Latin America’s major metropolis, by intensifying and blending new uses
The development plan includes complete reconstruction of local water, sanitation, and drainage systems, extensive streetscaping and landscaping, installation of three brand new sanitation plants, historic preservation, social inclusion (at least 3,000 social housing units are being delivered), and cultural and education initiatives
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