Financing of urban revitalization programs – analysis of current experience Cover Image

Finansowanie programów rewitalizacji obszarów miejskich − analiza dotychczasowych doświadczeń
Financing of urban revitalization programs – analysis of current experience

Author(s): Eliza Farelnik
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: revitalization; town; European Union funds

Summary/Abstract: The revitalization of selected urban areas is a very complex process that requires the involvement of many actors: local authorities, entrepreneurs, organizations, communities and it also requires very large funds. There is, therefore, the problem of finding sources of financing and financial engineering of the proper construction of those activity types. The purpose of this article is to present problems and ways of financing the urban revitalization process on the example of cities of Warmia and Mazury, which was used as a tool for local development planning revitalization program. The example of Warmia-Mazury shows that in the range of years 2004-2011 the main revitalization activities took place in the biggest cities in the region. They used funding mainly based on EU funds (European Regional Development Fund), as well as their own assets. In the current dominant model of revitalization in Poland small towns, which failed to receive funding from the EU funds, did not have any realization of the Local Revitalization Program. The optimal structure of financial engineering of a multi-stakeholder process of revitalization should therefore be built using the benefits that come from other financial instruments (municipal bonds, state funds) and the formula of public-private partnership (PPP). This may allow the development of law on urban renewal and the act to establish a national urban revitalization fund in Poland.

  • Issue Year: 2012
  • Issue No: 21
  • Page Range: 290-307
  • Page Count: 18
  • Language: Polish