Why can't private enterprise do it alone?

Community redevelopment is usually accomplished by forming a partnership of public and private enterprise. Public funds are used to lay the foundation and provide the pre-conditions that are necessary for private enterprises to be interested in and capable of investing their financial resources. Through the redevelopment process, a partnership of public and private efforts can join forces to bring new life to deteriorating areas.

The blighted areas designated for redevelopment are those areas where private enterprise has failed to revitalize an area. If deterioration is not stopped and turned around, the area will be unattractive for business investment. Public funds are used to leverage private investment into these blighted areas. These funds may also be spent to improve streets, utilities, landscaping, etc. to encourage and attract private development.