Resumen

ARAQUE SOLANO, Álex Smith. A MANAGEMENT MODEL FOR URBAN RENEWAL BUILDING PROJECTS. Cuad. Econ. [online]. 2014, vol.33, n.62, pp.61-89. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v33n62.43666.

Urban projects in Colombia, particularly those related to urban renewal, have not been successful in attaining the social goals set by either public policy or zoning. In this paper, I argue that by using the financial and planning tools considered in Congress Act 388 of 1997, it is possible to use the rents associated with the use of the land -traditionally captured by private operators- in favor of civil society. Specifically, it is possible to improve the provision of social housing and the supply of urban amenities under the principle of the fair allocation of cost and benefits. The infrastructure costs can be internalized into the projects and the higher land value that is captured can finance social housing as a Pigouvian tax. Additionally, under a Coasian perspective, the use of these tools modifies the property rights system, which allows the agents to maximize their objective functions.

Palabras clave : Externalities; land managment; burdens and benefits; IRR; IRO; value capture; Colombia.

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