Two Gains What do you think Cities and its municipal officia

Two Gains: What do you think Cities and its municipal officials are hoping to gain by winning a project or desperately want Mall in their respective city?

Risks: Could there be a downside to winning this project? What are the risks to the city? Is there anything the city could or should do to protect itself from suffering major losses if the mall is not successful?

Solution

The first gain is the increased level of economic activities, creation of derived demand in the area that benefits the local producers. So, contribution towards the GDP from the particular city or municipal are, will increase. The second gain is the creation of employment at the local level where the youths from the city, will get jobs. It will improve the purchasing power of the local people and economy of the city will get a boost.
Yes, there will be downside as it will create a scope of pollution, loss to the green area and damages to the environment. Success of the mall is not assured and the losses will have ripple effect to the local economy. There can be a rise in price level also. It attracts different risk to the city. It will cause, increase in price of real state, bringing volatility to the asset prices. Cost of infrastructure development, can also be shifted to the people of the city and it will create an additional financial burden. Displacement of people and their rehabilitation will pose another challenge for the city management.  
City can regulate the economic activities that will ensure that local economy is not solely dependent upon the success of the mall. There should be sufficient domestic city based demand that should be catered by the mall. It will help the city to absorb the shock and protect itself from failure of the shopping mall.