Science Target Conference Systems, Ajman 4th International Environment Conference 2016

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Community Reinvestment: A Priori Analysis of a Planning and Financing Strategy for Land Revitalization in the UAE
Jerry Kolo

Last modified: 2015-12-01

Abstract


Ajman in the United Arab Emirates (UAE) is a rapidly urbanizing city. Located next to Sharjah, Dubai and Abu Dhabi, Ajman attracts businesses and accommodation seekers, which and who cannot afford to live in the adjacent cities. For its advantages and challenges, Ajman’s growth exposes it to the inevitability of reaching ‘build out’ soon, requiring exploring, as this paper aims to, land revitalization initiatives to absorb Ajman’s growth. Land is the premier natural resource for accommodating growth in cities; to generate revenues for cities; and to enable residents to pursue their goal of self-preservation. Inherently, land is non-renewable and degradable, hence, it is imperative to plan and optimize land use. Cities aspire for sustainable development under the rubric of the United Nations’ Local Agenda 21 of 1992. In this regard, Ajman needs to explore strategies to revitalize land deemed to be contaminated (brownfield), and/or used below capacity. This paper contends that the current system of the Ajman government paying for all or most infrastructure is unsustainable. Hence, strategies are needed to plan, design, fund and implement land revitalization plans. This study analyzes the community reinvestment strategy (CRS), used widely in market economies, to finance land revitalization. Being a market economy in a theocratic political system, how can the CRS be adapted for land revitalization and green development in Ajman? This question will be answered by examining America’s community reinvestment program as a case study. Suggestions will be made for the adaptation of the strategy in Ajman.