Putting Public Assets to Work: Urban Wealth Funds

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Local governments are sitting on a "gold mine." Just as a private individual or corporation uses assets (like machinery and buildings) to generate income, governments can generate income from their assets. Urban Wealth Funds (UWF) are assigned government assets with commercial value under unified, professional management who own and manage these assets for the betterment of the local community. UWFs have been used by governments in Europe and East Asia to generate billions of dollars to fund local infrastructure while maintaining public control of these local assets. A few local governments in North America have also begun to explore UWFs, as a complement to taxes as a source of revenues. At this session, you will learn more about what an Urban Wealth Fund is, the benefits, and how can begin to unlock the benefits for your community.

Speakers

Ben McAdams

Ben McAdams

Senior Fellow, Sorenson Impact

Joseph Minicozzi, AICP

Joseph Minicozzi, AICP

Principal, Urban3

Theresa Alvarez

Theresa Alvarez

CEO & President, Austin Economic Development Corporation

James Wagner

James Wagner

Finance Director and CFO, City of Tulsa, OK

Jennifer Brown

Jennifer Brown

Director of Finance, City of Sugar Land, TX