Word: redevelopment
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There were some valid reasons for the more solid G.O.P. opposition this year. The program, which includes loans to redevelop both industrial and rural areas, has at times been poorly administered. Wisconsin Republican John Byrnes cited, for example, a loan to build a tissue-paper manufacturing plant in Tomahawk, Wis., just when the tissue-paper industry as a whole is having a hard time. Other Congressmen were plainly tired of taking the heat from communities that wanted loans but failed to qualify for them under bureaucratic requirements. After the vote, Kennedy indicated that he will try to get the bill...
...Streets and sidewalks sparkle with activity; everybody knows everybody else, and outsiders like to stroll there. And in the face of all the city planners' tenets, North End has the lowest delinquency, disease and infant mortality rates in the city. Yet planners keep talking of the need to "redevelop" North End, and bankers almost always refuse to lend money there for local construction. Why? Explains one banker: "It's a slum...
Most big cities have failed to redevelop their biggest land resource: slums. Slums are undertaxed, while good new apartments are overtaxed. A slum landlord has so little incentive to improve his property that often only the Federal Government can afford to build new middle-income housing on slum sites. If slum areas were taxed on the basis of the actual high value of the land in the city's heart rather than on the basis of the ramshackle buildings on it, landlords would be forced to build new higher-rent apartments...
...promoter, Detwiler's dreams have no boundaries. In 1950 he hustled into newly oil-rich Edmonton, Alta. with a 4-ft. by 5-ft. shiny-brown briefcase, drew out a series of dazzling plans to redevelop the city's downtown area in a $25 million project. The project failed to win the support of the necessary 66⅓% of voters in a referendum. He also urged U.S. and British church leaders to make Canterbury Cathedral a Protestant "Vatican" at a cost of $25 million, including hidden lighting that would give the effect of sunrise, sunset and moonlight...
...Push reasonable legislation to redevelop economically impaired areas, undertake needed tax reforms, stand for sound fiscal management...