"Over the past several years, we have seen a new, decided focus in many American cities of all sizes on redeveloping and renewing their cores, reversing trends toward suburban growth that isolated residents and crippled once-vibrant downtowns that often served as a city’s heart and soul.
One key way this transformation is happening is through the building of new urban parks and public spaces in the city center. These “front yards” are not simply green relief from asphalt, concrete, and hardscapes. They are spurring connections among residents, promoting education, and equally important, driving economic growth and community development.
Yet, one of the great challenges is how to develop these vital parks and public spaces without straining government budgets. While these spaces are proving their worth as community and economic drivers, there are equally important investments in many other areas that also must be funded from tax dollars. An effective solution? Private funding and management."