Finance, Stakeholder Alignment, Governance
Edited by Raymond E. Levitt, W. R. Scott and Michael J. Garvin
Chapter 13: Community investment and crowdfunding as partnership strategies for local infrastructure delivery
A trend toward the use of private sector partners and toward decentralization of participation in funding mechanisms has witnessed the rise of community investment in the form of crowdfunding of public infrastructure projects. While community funding _ for example, municipal bonds or other forms of capital cost sharing _ has long been utilized, civic crowdfunding has arisen with the advent of online platforms. This new mode has been employed at state, regional and community levels in the United States. The chapter explores the advantages and challenges associated with the use of crowdfunding by conducting two case studies involving the construction of two protected bicycle lanes in two different cities. Results suggest that crowdfunding can result in increased engagement of community members in project shaping and increased accountability for project owners and sponsors to the affected community.
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