CDURPCentral District Urban Renewal Plan (Oakland Redevelopment Agency; California)
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Furthermore, the project offers an important cultural dimension, since at least 3% of the resources will be invested in the area's tangible and intangible assets (CDURP, 2014).
A new funding scheme was designed in which bonds--(Certificados de Potencial Adicional Construtivo [CEPACs])--will be sold and purchasers will be able to exploit the area's constructive potential; in other words, they will be allowed to construct buildings and other structures beyond the current regulatory limits (CDURP, 2014).
The management of the Porto Maravilha project will be provided by the specially created CDURP, a partly private, partly state-owned company, independent from the city administration.
Another propitious factor mentioned in the empirical data was the creation of a company to address only the project (CDURP), an action in line with Fischer's argument (1996) that any change in the urban dimension requires local actions.
The companies that have been appointed for the executive management of the project (CDURP) and the winning contractor in the bid for implanting the works (Porto Novo) have also been remembered in the interviews (Interviewee Statements 5, 17, 18), evidencing the relevance of stakeholders that work locally (Fischer, 1996).
With regard to interaction between the company responsible for the rehabilitation project (CDURP) and the population's representatives, it is noted that there is a channel of communication and dialogue between these stakeholders.