Urban Regeneration Using Local Resources: Cost-Benefit Analysis

Abstract

Geographic areas within many cities are ripe for rehabilitation throughout the nation, but revitalization must be preceded by substantial front-end public expenditures. Because these front-end expenditures, more and more, must come from local revenues, city administrators are becoming increasingly concerned about the long-term fiscal feasibility of revitalization attempts. Recent and continued work in the Willoughby/Ocean View area of Norfolk, Virginia provides an excellent example of the use of cost-benefit analysis in the determination of the feasibility of using local revenues to augment private-sector urban regeneration.