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The Road Back (strategies which helped the Bronx recover) - Coggle Diagram
The Road Back (strategies which helped the Bronx recover)
Federal legislation
Home Mortgage Disclosure Act of 1975
required banks to reveal their mortgage lending practices
Community Reinvestment Act of 1977
required banks to make loans in their neighborhoods
Sweat Equity
People's Development Corporation 1974
Banana Kelly Community Improvement Association 1977
Prevented demolition and by 1981 had formed twenty one new co-op apartment units
Nonprofit intermediaries
provided money and expertise to local organizations
Local Initiatives Support Corporation (LISC) in 1970 financed sixteen organizations
local organization
community action groups created nonprofit community development corporations (CDCs)
Home ownership
(relates to sweat equity)
Edward J. Logue's South Bronx Development Organization
City support
1986 Mayor Koch's $5.1 billion capital housing porgram
The city used private and nonprofit developers, intermediaries, and community groups to produce, own, and manage the housing the South Bronx
Collaborated with New York City Housing Partnership to make home ownership more accessible
Social services
Phipps Houses, Banana Kelly, MBD Housing, Bronx ACORN, Highbridge Community Live Center, and other housing projects provided social services to Bronx residents as well as housing
job training, drug rehab, day-care centers, health clinics, classes in English, life skills, citizenship etc.