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A strategic planning intervention to redevelop an established urban area. Its purpose is to regenerate the area and improve neighbourhood amenity in often underutilised or disadvantaged urban areas.
The proportion of private rental sector properties that are currently unrented but are available to rent in a specified region. Traditionally, a fair rental market (for both landlords and tenants) has a 3% vacancy rate.
A tax to capture an increase of value generated through public investment or planning, such as the provision of new infrastructure or rezoning of land. Value capture can be essential in helping government fund local infrastructure improvements or in establishing new urban areas.
