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funding and public-driven development where necessary (Th ornton et al. 2007).
Policies should be explicitly designed to:
• Broaden the scope of heritage brownfi eld redevelopment projects by including
sites of both natural and cultural heritage;
• Eliminate legal obstacles to heritage brownfi eld redevelopment;
• Provide direct and indirect fi nancial incentives to encourage heritage brownfi
eld development and discourage greenfi eld development; and
• Create incentives that lead to brownfi eld redevelopment.
To design new fi nancial mechanisms aimed at regeneration and/or development
of urban brownfi elds with private-sector intervention, it is paramount to
thoroughly assess the long-term risks and benefi ts of such investments. In particular,
one must evaluate the performance potential of city assets by examining
the sustainability of the urban interventions across generations, income, and
groups, and in so doing analyze methods for capturing the value of undervalued
and vulnerable brownfi eld assets, which are the city’s latent capital.
Notes
1. “Brownfi eld” is the generic name used to designate remains of old urban manufacturing.
2. http://www.pracavictorcivita.org.br.
3. BoP refers to people who earn less than US$3,000 per year.
4. Th e Tunisia Th ird Urban Development Project, 1982–1993.
5. Known as “Water Health,” which operates in India, Ghana, and the Philippines.
6. http://www.lakotafunds.org.
References
Alker, S., V. Joy, P. Roberts, and N. Smith. 2000. “Th e Defi nition of Brownfi eld.” Journal of
Environmental Planning and Management 43 (1): 49–69.
Andelson, R. V. 2000. Land-Value Taxation Around the World. Malden, MA: Blackwell.
Annez, P. C. 2006. Urban Infrastructure Finance from Private Operators: What Have We
Learned from Recent Experience? Policy Research Working Paper 4045. Washington,
DC: World Bank.
ASEAN Foreign Ministers. 2000. ASEAN Declaration of Cultural Heritage. Bangkok:
ASEAN.
Bartsch, C. 2002. “Financing Brownfi eld Clean-up and Redevelopment.” Government
Finance Review, February.
Bartsch, C., and B. Wells. 2005. State Brownfi eld Financing Tools and Strategies. Washington,
DC: Northeast-Midwest Institute.
Bowes, D. R., and K. R. Ihlanfeldt. 2001. “Journal of Urban Economics 50: 1–25.