The effectiveness and efficiency of the financial incentives implemented to encourage brownfield redevelopment

Goodwin, Sarah (2009) The effectiveness and efficiency of the financial incentives implemented to encourage brownfield redevelopment. MSc dissertation, University of Portsmouth.

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    Abstract

    The reuse of previously developed land has been a contentious topic for many years and the government have been exerting pressure on developers through planning control to transform land previously employed for heavily toxic industrial use into unpolluted sparkling residential communities. Previously, these sites would have been avoided due to concerns and costs associated with issues such as contamination. Simultaneously, the government introduced various incentives in the form of tax measures including the Land Remediation Relief and the Landfill Tax Exemption in the hope that they will encourage developers. The aim of this thesis is to examine the effectiveness and efficiency of these financial incentives on a theoretical and practical level and to ascertain whether or not they are financially invigorating enough to attract developers to problematic sites. The experience of developers and their attitudes towards these incentives is explored through a survey. A case study analysis and example of an appraisal of a typical urban regeneration site is included to highlight the key issues within the discussion. The results suggest that these tax measures are too complicated to be utilised effectively and that there is not enough awareness of them within the property profession. In terms of provision of additional support mechanisms, the benefit of non-financial mechanisms is highlighted and it is concluded that further research is necessary in light of recent amendments to the Finance Act intended to make them less complicated.

    Item Type: Dissertation
    Departments/Research Groups: ?? EDAM ??
    Depositing User: Jane Polwin
    Date Deposited: 01 Feb 2011 10:37
    Last Modified: 28 Jan 2015 11:17
    URI: http://eprints.port.ac.uk/id/eprint/1110

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