Word: cra
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...CRA was born in 1957 when the city took advantage of the Federal Housing Act of 1949 to create a semi-independent agency to govern urban renewal. The Housing Act's original intent was the lofty goal of a "decent, safe, and sanitary" housing for all Americans. The 1949 Council endorsed the Act, foreseeing the opportunity "for Cambridge to replace large parts of its substandard housing with modern planned neighborhoods...
REDEVELOPMENT in the Kendall Square area got off to a smashing start in the summer of 1960 when the City toppled a 125-foot water tower onto a deserted factory in a public ceremony. Thereafter, it proceeded slowly as the CRA con- centrated its limited funds on residential areas such as Riverview and Cambridgeport until 1964 when NASA expressed an interest in building an electronics research center on the Quadrangle...
Since the space agency would remove the entire Quadrangle from the tax rolls, the CRA planned to locate revenue-generating businesses in the Triangle site to compensate for the lost tax revenue...
...middle of 1970, however, Federal budget cuts forced the space agency to abandon its half-constructed research facility. The CRA claimed a breach of contract and the government responded by locating the Department of Transportation, under former Massachusetts Governor John Volpe, in the six-building complex...
With NASA's abrupt withdrawal, development of the Triangle was also sidetracked. Thompson says that the Authority's initial reaction to the NASA departure was to pursue job-intensive development for the remainder of the Quadrangle, but that consultants advised the CRA to seek middle and upper income housing for the site...