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Essay / Research Paper Abstract
This 24 page paper at how BIDs Business Improvement Districts and REITs Real Estate Investment Trusts operate and how they can help regenerate run down areas. The requirements and practicalities of each are examined. BIDs and REITs are also assessed for their potential in the UK market. The bibliography cites 10 sources.
Page Count:
24 pages (~225 words per page)
File: TS14_TEBIDREIT.rtf
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Unformatted sample text from the term paper:
areas become run down there are a range of associated social problems that are associated with poverty such as increased crime rates (Haralambos and Holborn, 2000). The need to regenerate
these areas is of importance to the local community. However, the question is how should this be done. There are a range of tools which can be used. BIDs, Business
Improvement Districts, is for self help to take place, with business owners paying levy to meet the predetermined goals. REITs, Real Estate Investment Trusts, look to make use of capital
from investors to invest in property and then distribute the income created to the investors. This is a very liquid form of investment, and has the ability to enhance areas
or building that are invested in. Both of these are options that could have a positive impact in the UK. We will look at these individually. 2. BIDs The idea
behind BIDS is not new, indeed, it was first seen as a BIDs scheme in Toronto. The idea of a shopkeeper was triggered by the development of a underground train
line which was going to bypass the area he traded in; the Bloor West Village commercial area (Levy, 2004). His idea was to go to the local authority and allow
the local trades people to tax themselves and then use these resources as the funding needed to increase the attractiveness of the area (Levy, 2004). This was in the
1960s, the first BIDs project, started here, after a long period of planning, in 1970, this was the first ever Business Improvement District (Levy, 2004). The success of
this and subsequent projects is documented in the continuing demand for there creation, all at the instigation of the local business owners wanting to improve the area in which they
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