urban renewal

(redirected from Federal housing act of 1949)
Also found in: Dictionary, Thesaurus, Encyclopedia.

urban renewal

Redevelopment of deteriorated and underutilized urban properties, often through the provision of tax incentives, low-interest-rate bond money for loans, and government investment in infrastructure improvements such as roads and public parks in order to spur development.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
Full browser ?