Urban Econics

6 Pages 1532 Words

Urban Economics
&
Urban Growth

In today’s society, an urban economy is described as activities relating to the financial aspects of planning such as budgeting and funding are outlined in a special Subject Plan.
The Subject Plan contains figures on the financial requirements of the rehabilitation process and the development of the Old City. It also relates the available funds and the means to tap on further resources. The comprehensive approach outlined in the Plan envisioned the setting of priorities as funds become more available.
The complete full cycle of rehabilitation will last about 40 years. Maintenance work will have to be budgeted simultaneously to insure the sustainability of the process over the long run. In the money value of the year 2000 the overall cost for the rehabilitation work is about 2 million USD per hectare. During the 40 years estimated first cycle of rehabilitation, the annual expenditure has to be in the magnitude of 18 million USD for the Old City. The main components of the bill are items to cover expenditure in the private sector. However, the public sector still has an important role to play. Expenditure for infrastructure, public monuments and social services provide catalysts for development and entice the private sector to invest in the Old City. Furthermore, the public sector has to provide seed money and special funds to subsidize some of the work at least in the preliminary phases.





Problems
Economic activities are essential to the Old City’s vitality; however, not all activities are compatible with the special requirements of the historic fabric of the City. The new role of the Old City as a city center has brought in many activities that negatively affected the urban environment of the site:
1. Traffic generating activities: these enterprises involve high levels of traffic needs, such as shipping companies, whole sale warehouses, sweatshops, and some government se...