Housing replacement after the earthquake in Mexico City: opportunities for fiscal innovation and improved urban resilience

On September 19th, a 7.1 magnitude earthquake hit Mexico City, leaving a death toll of 228 people, 38 collapsed buildings and many other affectations. Although the city showed a great capacity to mobilize human and financial resources after the earthquake, many vulnerabilities and flaws in its risks management strategy were also revealed.

Only five months after the event, the city is crafting an action plan to transform tragedy into an opportunity and advance urban resilience.

To address housing replacement needs, Mexico City government has deployed a set of strategies that will be discussed during the event, including innovations based on the explotation of additional development rights, soft loans granted by a national development bank and fiscal coodination with the federal govenrment. These strategies recognize different realities in terms of real estate market dynamics and sociodemographic characteristics of affected people.

Participants from other local governments and social organizations will share their experiences in the pursuit of urban resilience and comment on the challenges that Mexico City is facing.