Localities are experimenting with social impact bonds (SIBs) to fund America's social service infrastructure. John Roman asks if such an instrument could be used to help transform blighted areas.
"SIBs are currently being used to invest in people, not places," writes Roman, senior fellow in the Justice Policy Center at the Urban Institute. "But, for cities looking to innovate, SIBs may provide a promising model for funding reclamation of blighted areas cities inherit or want to develop."
"Under this model, private capital would be used to support revitalization projects, and cities would provide investors a cut of the revenue if the developments prove profitable," he explains. "Using SIBs this way has some advantages over people-focused prevention programs. Unlike the Rikers SIB, where 'savings' from reduced recidivism are unlikely to flow back in the government's coffers, cities would clearly identify savings in development and maintenance costs, plus reap the reward of increased revenue from more successful uses of now dormant properties."
FULL STORY: Social Impact Bonds: A New Model to Reduce Blight
Newark Kicks Off $1 Home Sale Program
The city sold seven properties as part of an effort to revive blighted sites and encourage housing production.
Ohio to Demolish Thousands of Vacant Buildings
The state is funding a $150 million effort to raze blighted buildings to accelerate revitalization.
Downtown Reno: A Place Where Nobody Dared to Go
Residents of Reno, Nevada participating in a rewrite of the city’s master plan have spoken out about the myriad of problems afflicting their downtown—it's dirty, dangerous, and deserted.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
USGS Water Science Centers Targeted for Closure
If their work is suspended, states could lose a valuable resource for monitoring, understanding, and managing water resources.
Congress Moves to End Reconnecting Communities and Related Grants
The House Transportation and Infrastructure Committee moved to rescind funding for the Neighborhood Equity and Access program, which funds highway removals, freeway caps, transit projects, pedestrian infrastructure, and more.
Portland Council Tentatively Approves Sidewalk Repair Plan
The proposal would address sidewalk needs in Portland’s District 1 and District 4.
Expanding Access to Design Education at Honolulu Community College
Honolulu Community College’s Architecture, Engineering & Construction Technologies program highlights the role of community colleges in preparing nontraditional students for careers in architectural and construction technologies.
Integrating Human Rights Into Energy and Extractive Sector Transitions
Why just transition efforts must move beyond economic considerations by embedding human rights principles into business practices to ensure equitable, transparent, and accountable outcomes for affected communities and workers.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Moorpark
City of Tustin
Tyler Technologies
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions