• Community Revitalization Districts: Engaging Pontiac Neighborhoods for Downtown Economic Resiliency

    Author(s):
    Sean Kammer
    Date:
    2022
    Group(s):
    MSU EDA University Center: Regional Economic Innovation
    Subject(s):
    Economic policy, Economic development, Small business, Infrastructure (Economics), Community development
    Item Type:
    Report
    Tag(s):
    #Equity, #Economic, #Development, #EconomicDevelopment, #EconomicDevelopmentAdministration, #EDA, #Michigan
    Permanent URL:
    https://doi.org/10.17613/0mhx-9d02
    Abstract:
    This paper explores a demand-side approach to downtown development that looks at engaging the existing local community, residing in the City of Pontiac’s immediate and adjacent neighborhoods. This paper proposes the creation of Community Revitalization Districts to revitalize downtowns in distressed communities. Engaging with local neighborhoods, however essential, is insufficient to catalyze downtown revitalization because of a severe lack of effective demand stemming from a shortage of disposable income. To resolve this, Community Revitalization Districts are proposed, utilizing statutory revenue sharing, which would possess broad powers to intervene in the downward cycles of poverty and disinvestment. This hypothetical zone could be empowered to oversee economic development catalyst projects that improve the quality of life and contribute to the emergence of a functioning market. Potentially, boosting effective demand could send positive market signals which could help attract more firms to open in downtown. Additionally, the effects of this serves to encourage local business ownership, thereby building wealth within the community and contributing to the development of social capital. The outcomes this Co-Learning Plan includes developing ways to resolve issues with which cities like Pontiac have long struggled. It also seeks to engage the existing population in the adjacent neighborhoods to downtown to participate in the economy, guarding against what is pejoratively referred to as gentrification. It is hoped that the outcomes will set the stage for more locally owned enterprises to emerge.
    Metadata:
    Status:
    Published
    Last Updated:
    7 months ago
    License:
    Attribution

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