Economic Development and Urban Revitalization - Essay Example

 Economic Development and Urban Revitalization 1) How can transit-oriented development (TOD) be an effective planning instrument in the Economic Development Professional’s toolkit? TOD – Transit-orient development – regards utility of a mixed-use are a design concept, entailing commercial and residential area design and planning. Primary focus is placed on designs that optimally utilize space, maximizing access to existing public transport systems; and often incorporating transit ridership. As a result, a typical TOD neighborhood will necessarily have a center with an existing transit system i.e. bus/ tram stops, train or metro stations; surrounded by other forms of infrastructure. This may primarily be high-density development, subsequently surrounded by lower-density development that spreads outward from the area’s central placement. Traceable to the reconstruction efforts envisaged after World War II, in an effort of reconstructing Europe, many new towns and cities became founded on this ideal (Bingham & Mier, 1994). As Michael and Robert (1996) allude, they were created around TOD communities with various TOD principles became incorporated into the planning and subsequent development of these areas. Half-a-mile radius circular planning has been the standardized measure between which TOD catchment areas were placed. This distance does correspond to a distance that is manageable, for existing populations to walk, in the quest of accessing transportation. The essence behind this is provision of features designed with the intention of encouraging utility of public transport means; in addition to distinguishing such a development from what are considered urban sprawls. As part of a given region’s larger undertaking of community economic development, TODs do entail principles of CED strategy. This is primarily a strategic plan that aims at enhancing a given community’s economic development. This is informed by the fact that such strategies can be utilized in not only updating the region’s official Community Plans, but also zoning by-laws. This is informed by the fact that priorities based on economic development, often do have fundamental impact on community policies; and specifically so, in regard to land-use planning. A professional in economic development would thus be majorly advantaged, having the requisite knowledge of CED strategy; to be further improved through TOD initiatives (Michael & Robert, 1996). In augmenting CED strategies with TOD planning as Fischer (1995) envisages, urban habitations are interconnected in a networked manner, via the prevailing transport network systems; thus enabling easy movement of goods and society. CED strategy provides a wholesome framework, on which an area can have both investments and business attraction enhanced, as part of creating economic development. In this regard, investment attraction strategies are also a vital component of any CED, thereby necessitating inclusion of viable transport and logistical capacity; as inclusive aspects of an area under development. A professional in this context, would thereby be better equipped, at planning and strategizing on the best development models. With development of an area being ‘transit-oriented’, the design of such an area will be considerate of easy movement of population and goods. This is important due to the fact that economic development is anchored on the existing logistical capacity and dynamism of a region. through integration of different, yet interconnected TOD neighborhoods along networked transit routes, a community economic development professional, is thus able maximize the potential capacity and output of a given urban setting (Fischer, 1995). 2) Discuss the challenges and opportunities for the Economic Development Professional in implementing “creative place-making” strategies. As discussed earlier, the economic development professional is influential in the elaborate planning and strategy of area development, necessary in creating economic attraction. Pertinent to this end, is the need for implementation of CED strategic initiatives, which are inclusive of TOD planning and networking. In the current era, ‘creative place-making’ has been receiving widespread attention, creating debate within the community development sector. Landry (2003) definitively portrays creative place-making is regarded as development that is organically networked, in various neighborhoods, and urban settings. An influential factor in this interest may perhaps be as a result of renewed momentum in terms of policy coordination and funding. As a result, tremendous effort in the development of creative place-making initiatives is perhaps most influenced by the realization that there is need for dynamism; within the field of community development (Landry, 2003). While accepting that current progress in this field has influenced development towards efficient planning, the dynamic nature of society necessitates incorporation of creative place-making. Through this, stakeholders from private, public, community and non-profit sectors do participate in the strategic shaping of a neighborhood’s social and physical character. Influential, is the place of culture and arts, in terms of activities, artwork and traditions; all which distinguish a given region from others as Markusen (2006) avers. in this regard, creative place-making does engage in various venture activities, which inadvertently improves the overall ‘comfort and accommodation capacity’ of a given area. Thus, there is influence by way of: animation of private and public spaces, the rejuvenation of streetscapes and structures, and the greater improvement of public safety and local business viability. Above this, is the capacity to draw diverse populations, with the aim of celebrating, to provide inspiration, or even be inspired as individuals (Markusen, 2006). Opportunities abound in the fact that increased focus and funding has been placed on creative place-making as a whole. Partnerships between the private and public sector are key drivers in this regard, with community and non-profit organizations joining in. thus, a professional would be able to get not only funding, but also partnerships that are wide ranging and diverse; further influencing the creative capacity envisaged. Another opportunity would be that each and every initiative would be founded on the principle of ‘place-based’ orientation, thereby resulting in distinct variety of creative development (Filicko & Lafferty, 2002). In developing these initiatives, Florida (2002) is of the view that the professional would be further advancing the area’s core attraction – as a centre of cultural activities and arts. All these, will invariably enable the professional develop an area that places emphasis on not only the physical and social aspects of human development, but also on economic and intrinsic arts-related impacts. These are – to celebrate, inspire and be inspired – by the prevailing development of a given region. Challenges that would face the professional would include: - having a program that identifies and utilizes strategic action by the cross-sector stakeholders necessary in implementing creative place-making strategies. Another will be on how to incorporate the various existing cultural and artistic diversity that is often present within a given urban setting; with the aim of developing a holistic approach to neighborhood development. Another challenge would be that fact that funding and policy-making is based on the need for collaboration between town/city/ urban area development authorities, specific government entities and the existing cultural/ art organizations. Only after such relationships/ partnerships can a professional be able to implement effectively, various creative place-making strategies (Florida, 2002). 3) The Municipal Scorecard for Affordable Housing Delivery (MS-AHD) was designed to promote a more holistic and integrated approach to affordable housing development and preservation. Discuss the key elements of the MS-AHD model and how it can be effectively used to develop affordable “workforce” housing in a community. The Municipal Scorecard for Affordable Housing Delivery (MS-AHD) places primary focus on the providing a systematic, performance-based approach, in regard to private and public investment initiatives; within the field of affordable housing development. Developed and implemented first in the U.S. counties of Palm Beach and Broward, it was founded on the increased consideration that local governments do need to be more ‘pro-active’ in necessarily developing proper housing measures. As Wiewel, Teitz and Giloth (1994) allude, this is in addressing the prevailing resident workforce housing needs. Accordingly, both accessible and affordable housing for the working class is essential to local economies, contributing vastly to the affected society’s wellbeing and development. Thus, the importance of this initiative relies directly on its various key elements, which inadvertently can be coordinated towards addressing housing needs of residential workforces. These are interlinked towards enhancing affordable housing delivery/ mutually-supporting workforce ‘process criteria.’ These four strategies do provide the foundational basis on which to base a comprehensive and systematic affordable housing and workforce delivery system. On a holistic manner, these processes do aim at: - enhancing management commitments and providing essential policy leadership and skills; in addition to dedicating on-going institutional capacity building and funding towards enabling successful development and implementation of such systems is envisaged (Wiewel, Teitz & Giloth, 1994). From this approach, expected outcomes should majorly be founded on providing sustainable affordable housing / workforce level production and subsequent preservation. In regard to ‘land use and planning’ as a key element, changes envisaged are to potentially provide novel incentives and opportunities for the development of affordable housing production and subsequent preservation. Importantly as Markusen and Anne (2010) admit, is the need for identification of correlations between key elements and the required Housing element. Specific focus is places on how objectives and policies correlated with existing public facilities; future land use objectives and policies and capital and transportation improvement elements. Policy and management assessment requires that comprehensive policy making and professional management (implementation) do interact inseparably. Thus, clear policy direction is essential, inclusive of commitment to professional management resources and capacity. Pertinently so, is the importance of professional and organizational management capacity. Land planning and use process, refers to effective planning of land use, vital to both strategy implementation as a subsequent phase after policy formulation. The MS-AHD model influences whether planning is being utilized towards informing policy decisions, as well as implementation of affordable policy strategies (Markusen & Anne, 2010). Inclusive in this model as Fischer (1995) alludes, is the dedicated funding process, which is essential in supporting affordable housing/ workforce policies and pertinent strategies. Funding should hence be long-term in regard to dedication funding streams/ sources. Accordingly, through dedicated funding sources, other stakeholders do witness government commitment, as well as assurance that projects are on course towards realization. This is inclusive of staff support for other stakeholders responsible for both the planning and management phases. In tackling this, the issue of institution building is incorporated, as a long-term process aimed at addressing the housing needs of a given area. Accordingly, the model envisages that for long-term effective implementation of a localized affordable housing delivery system, there is need for a concerted effort. Community inclusion is essential in the planning and implementation processes (Fischer, 1995). 4) Discuss the importance of evaluating local economic development performance and the “quality” of local economic development outcomes. Local economic development is essential to any given area, as an avenue towards enhancing the area’s economic capacity and competitiveness. Importantly so, is the evaluation of economic development policies, programs and activities; in terms of their effectiveness towards enhancing the area’s economic competitiveness and capacity. As Hatry et al. (1990) aver, the measurement capacity required in such an effort, is dependent upon local management and planning staff ability to rate economic change as witnessed in the community. Accordingly, in order to effectively evaluate performance rates, in addition to the quality of outcomes gained, there is need to utilize economic and community indicators. Community indicators pertain to statistical standard measurements, which provide information of not only past, but also current trends. This in turn, assists both community leaders and planners to make better decisions; in regard to the envisaged future outcomes. This thus necessitates the aspect of citizen participation and involvement. These bits of information when combined, do generate an idea of what is currently happening within a communal setting. This is in terms of providing insight, into the community’s overall inspirations and direction i.e. is it stagnating, improving or declining (Hatry et al., 1990). Augmenting this contribution, is the importance of economic development indicators. These are essentially based on a number of design principles i.e. they are - comprehensible in terms of defensibility, relevance and conciseness; scalable in terms of measurements that allow inter-jurisdictional comparisons; measurable in terms of allowing objective and statistical time-series evaluation; readily accessible with little or no cost to the public, and are annually revisable in terms of annual monitoring and revision. By evaluating the economic impact experienced, planners and policy makers are able to explore the impacts present. This is in terms of the area’s (under focus) production, distribution and consumption levels (Bingham & Mier, 1994). This is in terms of goods and services, emanating from capital and labor investment within the area’s technological, natural and human capacity. Consumption levels, investment and saving amongst all pertinent stakeholders, do influence the area’s economic dynamism, sustainability, fairness and equilibrium. Hence, as DeNatale and Gregory (2007) portray, when envisaged strategies are founded on full utility of prevailing natural and human resources i.e. by way of job opportunities and wealth creation, the overall living standards are improved. This is what determines the ‘quality’ of outcomes generated through such initiatives. In improving residents’ standards of living, the local economy is envisaged as directly affecting not only citizen populations and businesses present, but also institutions amongst other pertinent stakeholders. Pertinently, both economic growth and workforce quality are key aspects of local economic development evaluation. Accordingly, is the need to align prevailing workforce quality with labor productivity; hence ultimately determining economic growth and subsequent rise of labor wages. In this regard, the creation of places which are conducive in various ways, is essential to the growth of the local community. This is primarily by way of ensuring comfortable and enjoyable lives, with ample opportunities for economic wellbeing and career advancement (DeNatale & Gregory, 2007). This is influenced by way of utilizing different individual indicators that aim at measuring improvement of prevailing economic growth and conditions, as precursors of communal wellbeing. These indicators are inclusive of: - commuting time, workforce housing, hiring momentum, wage rates, employment vis-à-vis unemployment rates, area economic diversification and prevailing workforce/ household income disparities. References Bingham, R.D. & Mier, R. (1994). Theories of local economic development. Thousand Oaks, CA: Sage. DeNatale, D. & Gregory, W. (2007). The Creative Economy: A New Definition. Boston, MA: New England Foundation for the Arts. Filicko, T. & Lafferty, S.A. (2002). Defining the arts and cultural universe: lessons from the profiles project. Journal of Arts Management, Law, and Society, 32(3):185-205 Fischer, F. (1995). Evaluating public policy. Chicago: Nelson-Hall. Florida, R. (2002). The Rise of the Creative Class. New York, NY: Basic Books Hatry, H.P., Fall, M., Singer, T.O. & Liner, E.B. (1990). A manual for monitoring the outcomes of economic development programs. Washington, D.C: Urban Institute Press. Landry, C. (2003). The Creative City: A Toolkit for Urban Innovators. London, UK: Earthscan. Markusen, A. (2006). Urban development and the politics of a creative class: evidence from a study of artists. Environment and Planning A, 38: 1921-40. Markusen, A. & Anne, G. (2010). Creative Place-making [White Paper for The Mayors’ Institute on City Design - National Endowment for the Arts]. Washington, D.C: Markusen Economic Research Services and Metris Arts Consulting. Michael, B. & Robert, C. (1996). Transit Villages in the 21st Century. University of California, Berkeley: McGraw Hill. Wiewel, W., Teitz, M. & Giloth, R. (1994). The economic development of neighborhoods and localities. In R.D. Bingham & R. Miers (Eds.), Theories of Local economic development (pp. 80-99). Thousand Oaks, CA: Sage. Read More