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How do you collaborate and partner with other sectors and disciplines in urban regeneration finance?

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Urban regeneration finance is the process of mobilizing and allocating resources for the transformation of urban areas that face social, economic, and environmental challenges. It requires a collaborative and multidisciplinary approach that involves various actors, sectors, and disciplines. How do you collaborate and partner with other sectors and disciplines in urban regeneration finance? Here are some tips and examples to help you.

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GB Arrington

Retired Respected Global Innovator in Transit Oriented Development
Adesola Harold Orimalade

Dad | Treasurer | COO | Author | Transformational Leader | Future of Finance | Poverty & Homelessness Awareness…

1 Identify common goals and values

The first step in collaborating and partnering with other sectors and disciplines is to identify the common goals and values that drive the urban regeneration project. These may include improving the quality of life, enhancing the local economy, preserving the cultural heritage, or addressing the climate crisis. By aligning the vision and mission of the project with the interests and motivations of the different stakeholders, you can create a shared understanding and commitment to the project.

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GB Arrington

Retired Respected Global Innovator in Transit Oriented Development
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Put yourself in each of your partners shoes, how does a successful urban regeneration enable them to advance their objectives? In other words, its ok and likely that big complex regeneration projects will have different definitions of success among the stakeholders. Understanding those differences will be critical keeping your partners at the table over time.

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2 Build trust and communication

The second step in collaborating and partnering with other sectors and disciplines is to build trust and communication among the project team and the wider community. This involves establishing clear roles and responsibilities, setting realistic expectations and timelines, and providing regular feedback and updates. It also involves creating opportunities for dialogue, learning, and co-creation, such as workshops, seminars, or online platforms. By fostering a culture of trust and communication, you can enhance the transparency, accountability, and innovation of the project.

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GB Arrington

Retired Respected Global Innovator in Transit Oriented Development
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Successful urban regeneration projects all have a common thread: leadership. Without effective well-placed leadership getting to a successful outcome can be nearly impossible. That said it is important to understand leadership may need to evolve as the project advances from vision to reality. Maybe leadership starts with community advocates, then it shifts to a government entity to align silos and mobilize resources, the next phase might see leadership moving to a public-private partnership for implementation and perhaps a special purpose entity for operation.

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3 Leverage diverse expertise and resources

The third step in collaborating and partnering with other sectors and disciplines is to leverage the diverse expertise and resources that each actor can bring to the project. This may include technical skills, financial capital, social networks, or institutional support. By tapping into the complementary strengths and capacities of the different actors, you can optimize the efficiency, effectiveness, and impact of the project.

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GB Arrington

Retired Respected Global Innovator in Transit Oriented Development
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Implementation of a complex urban regeneration project is analogous to running a relay race. Smooth hand-offs between partners are key. The complexity and elongated timelines of most urban regeneration projects requires having an initial roadmap early on of what expertise, resources, partners roles and responsibilities will be necessary to achieve a successful project. That will help you build the team and attract the required stakeholders.

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4 Manage conflicts and risks

The fourth step in collaborating and partnering with other sectors and disciplines is to manage the potential conflicts and risks that may arise during the project. These may include diverging interests, competing priorities, conflicting agendas, or unforeseen challenges. By anticipating and addressing these issues early on, you can prevent or mitigate their negative effects on the project. This may involve negotiating, compromising, or adapting the project goals, strategies, or outcomes.

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GB Arrington

Retired Respected Global Innovator in Transit Oriented Development
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Complex urban regeneration projects inevitably come with risk and conflict. Consistent transparency, communication and drawing on the experience of your partners will help pave the way to address them effectively. And that may mean recruiting new partners with the necessary skills and knowhow to navigate what the project is facing.

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5 Evaluate and celebrate outcomes

The final step in collaborating and partnering with other sectors and disciplines is to evaluate and celebrate the outcomes of the project. This involves measuring and reporting the progress, achievements, and challenges of the project, as well as the lessons learned and best practices. It also involves acknowledging and rewarding the contributions and efforts of the different actors, as well as the benefits and value they have created for the urban area. By evaluating and celebrating the outcomes, you can demonstrate the value and impact of the project, as well as strengthen the relationships and partnerships for future collaboration.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Adesola Harold Orimalade

Dad | Treasurer | COO | Author | Transformational Leader | Future of Finance | Poverty & Homelessness Awareness Advocate | Business Innovation | Intersection of Business + Humanity | Advisor | Speaker | Board Member
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One of the first things you must do is identify who the stakeholders are. Sometimes it isnt always that easy to incorporate all stakeholders but to be successful that has to be a detailed and extensive process. In reality you need all voices to be heard. Typically your stakeholders would include - Local residents - Local businesses - Commuters e.g. workers who live in suburbs but come into the area regularly for employment purposes - Community groups - Environmental organisations - Policy makers and local political leaders - Social and public institutions like local schools, religious organisations, hospitals etc

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How do you collaborate and partner with other sectors and disciplines in urban regeneration finance?

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3

4

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1 Identify common goals and values

2 Build trust and communication

3 Leverage diverse expertise and resources

4 Manage conflicts and risks

5 Evaluate and celebrate outcomes

6 Here’s what else to consider

Urban Regeneration

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