An Example of Coordination for City Development
countries must face is obtaining the nec-
essary resources to create infrastructure
that provides decent living conditions
for its citizens. The systems generated
to meet this goal without affecting fiscal
sustainability include, among others,
public-private partnerships.
Colombia, as expected, has not been
a stranger to this phenomenon. The
political constitution of 1991 provided
a legal framework that allows the
public and private sectors to align their
interests. Such partnerships facilitate,
on the one hand, compliance with the
purposes of the state, and on the other,
parties derived from the assumption
of burdens that would otherwise be
assumed by the state. An example of
these schemes can be found in law
388/1995 and law 1508/2012.
Previously, the country had not
implemented non-traditional financing
schemes for projects other than for road
construction, governed by law 1508. Now
the country has left behind this historic
lag to allow for one of the most ambitious
projects ever seen in the country
known as "Ciudad Lagos de Torca."
Lagos de Torca came to life on
March 3, 2017, pursuant to the issuance
of Decree 088 by Enrique Peñalosa,
purposes are: (i) regulate the urban
planning and environmental conditions
where its area of influence will be
developed, 1,800 hectares north of the
city; and (ii) establish a trust mechanism
that allows the confluence of interests
of the public and private sector, to
develop the required infrastructure for
the use of this portion of the city. In
fact, according to the financial analyses
performed by the district administration,
more than 4 trillion pesos are necessary
for the construction of roads, main
utilities networks, parks and recovery
of environmental lands and to ensure
of the department of corporate law for Pinilla,
Gonzalez & Prieto Abogados. His main area of
practice is related to civil and commercial law.
Av. Calle 72 No. 6-30 pisos 9 y 14
Bogota, Colombia
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