Paying For Public Projects
Cities evolve constantly, with public projects of all kinds and at all scales commissioned – or offered up – to deliver on policy and citizen needs. At the same time, budgets are shrinking, the EU tap is set to close, and financing and funding sources are changing fast. We need more effective ways to pay for and deliver public projects.
There is funding and financing available for housing, regeneration and infrastructure work, from straight finance or asset sale through institutional investment, grant and developer contributions to outliers like crowdfunding.
The disconnect is that not enough public project managers have the skills, experience and/or time for effective funding and finance, and few large funders understand the realities of public project delivery.
Future of London’s late 2019 project took stock of existing and emerging funding sources for key urban activities and assessed the challenges to deploying these sources for different types of projects based on real-world experience, expertise and evaluation.
With 10 years of austerity followed by Grenfell, Brexit and now Covid-19, funding public projects may seem more daunting than ever. But there is potential. Read on…
Several alternative funding/financing sources are coming onto the radar. Varying in scope – from small-scale to multi-million-pound investments – these could be viable complements or substitutes to traditional sources.
The second of three roundtables in FoL’s ‘Paying for Public Projects’ programme convened cross-sector experts to discuss the merits and risks of current private sources of funding and financing for delivering regeneration, housing, and local-scale infrastructure schemes.
The first of three roundtables in FoL’s ‘Paying for Public Projects’ programme convened cross-sector experts to discuss the merits and risks of current public sources of funding and financing for delivering regeneration, housing, and local-scale infrastructure schemes.