Urban regeneration assessment Essay Example for Free

Urban regeneration assessment Essay Looking at the politics behind the drive for urban regeneration is about communities, integrating the social and private sectors to create mixed, sustainable communities, with housing, retail and commercial development which are the key to the regeneration process. In order to bring private and commercial participation, the government has set aside an annual sum of 4 billon pounds for its annual spending; the drive of the government is to encourage social and affordable housing and to establish eco-towns. The government is also seeking to ensure greater private sector in the financing of, and the delivery of regeneration and sustainable targets in the various communities. Role of private sector partnership in urban regeneration Hence developers are being asked by the government to participate in building now by accessing this funds and then pay later as part of the initiative of the government to kick-start the economy. It has plans to relax red tape and give a boost to construction of properties some authorities are offering land for free. With developers only paying once the depression is relax. The authorities have promise upfront compensation on green space development and the government is more prescriptive on the distribution of its annual housing grants to individuals and corporate institutions that are willing to participate. Understanding urban regeneration has improvement by means of a focus on redevelopment of obtainable crucial aspect of urban regeneration. It is the contribution of public authorities and public money as private developers would have no incentive redevelop an area themselves basically because there are more eye-catching investments else where Urban regeneration is one of the nearly everyone serious financial troubles of Cities all over the world, the larger the city the greater the problem Local establishment cannot finance urban regeneration themselves; there needs to be private participation are capital; therefore town and cities are redeveloped often on a partnership basis between local authority and private developer. The major elements in redevelopment are the land legislative body, the finance, and the tangible development. Schemes have evolved whereby the local authority assembles the land and develops the public services whilst the private developer concentrates on the reminder of the scheme. Each scheme is resolute by means of bargain between developers looking for to maximize returns and planners seeking the maximum community benefit. Much policy is based on a ‘planning gain agreement where, for example, approval of profitable office development is granted in exchange for some area benefit. For some time now the scope has broaden in the direction of the provision of housing and other social amenities Risk analysis of private developer There are some certain risks that may arise such as poor annoyed government working results in failure to put into practice the key priorities in the agreed region regeneration. Action Plans to deliver the area regeneration plan in addition to the gap between the quality of life for people in underprivileged urban areas to the rest The requirement of Housing Corporation They are several perspectives required by the housing corporation. The pre- prospectus sets out a frame work for programmed, and invites organizations and spirited individuals that are interested in becoming investments partners to apply for pre-qualification. The pre-prospectus also allow for five year funding if you are successful with the pre –qualification exercise. The corporation always encourage dynamic and efficient of organizations from different sectors who are qualify to always apply. Since the pre qualification exercise is base on technical ground for participation. Once a business, pass the prequalification exercise, You’re asked to summit the bidding The Housing Corporation places great importance on good programmed management by bidding organizations during the post bids process. Responsibility for the delivery of milestones, appropriate and timely warning of any problems with delivery and accurate maintenance of forecast and delivery data on the Corporation’s Investment Management System (IMS) lies with successful bidding organizations. Assessment of bids is carried out at a regional level by Housing Corporation regional investment teams. In the modern form of urban generation, there is always a need for more partners to be involved . urban regeneration and private-public partnership are form more frequently as part of environment actors, which is form by actors involved in the urban regenerating field. The role of this actors is to bring to the table the needed ingredients and resources, to bring about the needed change and development of the environment. Due to the high cost of regeneration of land and buildings, this raise the question of the availability of finance for the private sector participation, because the more intense the level of development the more the process is dependent on financial markets and funds from the capital market. This was usually the case when the economy was booming, but due to the depression at the moments private participation is does not carried greater risk as its use to be. Because of grants and low tasks and the authorities have lower down bottlenecks considerable? Hence private participation would be quite lucrative on the long run. Recommendation This assessment tries to make the client to understand why investing in our urban community regeneration should be the priority at this critical period. Even with risk involved, when spread it is considerable worth why when you succeed. It’s also trying to bring in subsequent effort that the government of the United Kingdom is doing to encourage such practice. I therefore recommend the following. My perspective is that of a practitioner in the field of urban regeneration. And with the trend of event it’s seriously encourage private participation and will yield good rental income on the long run. I seriously recommend that private and public partnership with the government is the only sustainable way to achieve greatly in the pursuit of urban regeneration. And it’s the major way private developer could benefit from obtaining huge income arising from the development and renewal of our communities. References: Boxmer, B. etal (2005). Public-private partnership in urban regeneration. European journal of housing policy, volume 5, issue 1 April 20 http://www. housingcorp. gov. uk/server/show/ConWebDoc. 10780 05, pages 1-6. http://www. the-infoshop. com/study/ah66533-regeneration. html http://www. theherald. co. uk/news/news/display. var. 2468789. 0. build_now_pay_later_plan_to_boost_city_economy. php