Local funding in area-based urban policy

Abstract

In this article it is proposed the establishment of a local funding system. Thisinitiative, besides its strictly economic objective, is aimed to involve residentsin local development investments through the participation in these funds,stimulate creative urban ideas, and develop a feeling of legitimatedindividual participation in the city development.However, much has to be done in what concerns law and urbanregulations, as well as administrative coordination in order to assure thisfinancial system to be a success not only for the local-area residents, butalso to the city as a whole.