Longman Dictionary of Contemporary English homepage

renewal

noun
     
re‧new‧al [singular, uncountable]
1 when an activity, situation, or process begins again after a period when it had stopped
renewal of
a renewal of the recent conflict
Spring is a time of renewal.
2 when you make an agreement or official document continue for a further period of time after it ends
renewal of
the renewal of our annual licence
Mark's contract comes up for renewal at the end of this year.
3PEB

inner city/urban renewal

when the poor areas of towns are improved by making new jobs, industries, homes etc

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