Reimagining Cities-Disrupting the Urban Doom Loop

Cities and government entities at all levels should focus on “making the right thing easy.” • While we are not recommending getting rid of planning departments, “making the right thing easy” can hasten the transition of the portfolio, which we estimate will yield benefits for both the local economy and governmental revenues. • Form-based codes are one way to allow for greater flexibility in future building uses as ma rket conditions change. If most of today’s offices were built using form-based codes, the conversion from office to residential (or other desirable uses) would be far more feasible. • Expedited building permitting is another path. Many supply-constrained jurisdictions across the country require years to obtain building permits, even if the by-right zoning is in place. • Incentives matter. Some cities (or states) may find that tax abatements and/or subsidies provide an accelerant to private sector led redevelopment. These options can be considered “carrots,” while a form of “stick” might be a land tax scheme. Any additional federal incentives 114 may further facilitate a faster rebalancing.

Under Consideration

In Place

Statewide

Local

Low income Housing Tax Credits

Tax Increment Financing (TIF)

Tax (Credits/ Exemptions/ Incentives)

Energy Tax Credits

Tax Abatements

Market

State

Grants

Zoning Other Conversion Incentives

Atlanta

Georgia

Austin

Texas

Boston

Massachusetts

Chicago

Illinois

Dallas

Texas

Denver

Colorado

Los Angeles California

Miami

Florida

New York City

New York

Philadelphia Pennsylvania

Phoenix

Arizona

Raleigh

North Carolina

San Francisco California

Seattle

Washington

Washington DC

District of Columbia

114 https://www.congress.gov/bill/118th-congress/house-bill/419

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