Gyeonggi Province will be accepting applications for the 'Gyeonggi The Dream Regeneration Project' until April 22 next year, aiming to revitalize declining old downtown areas and promote sustainable urban regeneration.
The Gyeonggi The Dream Regeneration Project is an urban regeneration initiative unique to the eighth popularly elected administration of Gyeonggi Province. It encourages participation from residents, youth, and businesses to discover and implement regeneration models tailored to local conditions. The project aims to restore vitality to old downtowns and strengthen their self-sufficiency.
The upcoming call for applications will focus on two main stages: the 'foundation-building stage' for areas preparing for urban regeneration, and the 'sustainable operation stage' to support follow-up management and operations after the completion of urban regeneration projects.
The previously included 'project implementation stage' will now concentrate on consulting and has been shifted to a model that links with government-led urban regeneration projects.
Gyeonggi Province will not set specific limits on project size, area, or duration to accommodate the diverse circumstances of each city and county. Instead, it will select target areas without regard to quantity, within a total budget of 10 billion won (50% funded by the province and 50% by the respective city or county).
Eligible project areas are those classified as declining under the Urban Regeneration Act, where population and businesses are decreasing and the number of aging buildings is rising. Cities and counties may identify capable participants such as residents, youth, and businesses to promote downtown revitalization, and submit proposals for various regeneration projects that reflect local characteristics. The final selection results will be announced at the end of June, following evaluation by a committee of experts.
Prior to accepting applications, Gyeonggi Province will provide systematic support from the preliminary stage to enhance the feasibility and completeness of project plans. A demand survey will be conducted in January, and three rounds of professional consulting-face-to-face, on-site, and comprehensive-will be offered to prospective applicants by April.
Ahn Sunghyun, Director of Urban Regeneration at Gyeonggi Province, stated, "As the Gyeonggi The Dream Regeneration Project enters its fourth year, we will identify target areas that match local conditions and capabilities, and strengthen preliminary consulting to further enhance the quality of the projects."
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