An important theme in the revival of many American cities has been the emergence of a new paradigm for urban revitalization. This paradigm not only acknowledges the central role of the marketplace in driving the future, but also defines new and creative roles for local government, nonprofit CDCs, and other stakeholders in harnessing the power of the marketplace for positive community change. While weak market cities face particular challenges in seeking to apply this paradigm, opportunities exist everywhere.
There are few tasks more important and more necessary in American society today than the regeneration of cities. Recognizing the importance of this task, four different organizations concerned with the future of our cities--the Community Development Partnerships' Network, The Enterprise Foundation, the Local Initiatives Support Corporation, and the National Housing Institute--have joined forces to prepare this paper, hoping that it will advance and accelerate the revitalization of America's cities. The information in this paper should help CDCs, government officials and agencies, lenders, community members, and local foundations that provide resources for housing and community development in weak market cities assess the effectiveness of current revitalization efforts; develop more potent goals and strategies; and allocate resources to best achieve these goals.
This is document is a joint publication of the Community Development Partnerships' Network, Enterprise, Local Initiatives Support Corporation and the National Housing Institute.