• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.9
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• pp.4524-4531
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• 2013

Recently, there are increased importance on introducing Tax Incremental Financing as a means of project financing for urban regeneration. Values of implementing this financing method based on future revenue has to be considered not just as self-financing methods but as possibilities building virtuous circular structure in urban developments. In respond to domestic problems in developments led by private sector, it reinforces public sector's roles by providing finance from the beginning of development. This provides concomitant structural & institutional supports for increasing not only social values for the public but also revenues for private developers. Therefore, this study starts with theoretical background study on TIF as well-known example, then analyzes PILOT used on Hudson Yard Development in NYC as an unique example sharing identical structural & conceptual characteristics. With these process, the study deducts suggestive implications on Tax Incremental Financing possibly reflected on domestic situation.

• Journal of the Korean association of regional geographers
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• v.12 no.2
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• pp.305-322
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• 2006

An increasing number of cities employ rescaling strategies that not only construct metropolitan production network scaled down from national context, but also tune up new governance to effectively control local geographies of the city. In this context, urban redevelopment has emerged a key 'global' strategy to empower governmental institutions of the city, which not only eliminate such threatening spatial variables as deteriorated housing, working-class ghettos, and crime areas, but also increase and extract exchange value of those spaces. I view such practices a process of 'glurbanization'. This paper investigates how state/city government employs the discourse of urban re/development for 'inventing' poverty at an urban scale: how it institutionalizes the discourse for implementing concrete projects: and how urban institutional apparatus appropriate their discursive practices of redevelopment for their own ends in the city. By particularly focusing on the California Redevelopment Law and the Community Redevelopment Agency of the City of Los Angeles, this paper analyzes the ways in which the law and the agency extract value from what they define 'blight areas' by means of eminent domain and tax increment revenues. For empirical analysis I employ discourse analysis and institutional ethnography. I conclusively argue that the urban spaces stigmatized as 'blight areas' are increasingly entrapped by the urban redevelopment agency, which extracts increased exchange value from the areas and redirects it for supporting external investors, private developers, and the body of the agency itself.