Word: slum
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...JUNCTION. Suzy Kendall, a dazzling blonde bird from Britain, is the viewer's guide in this gritty, realistic journey to a Battersea slum...
DRESSED in old clothes and overalls, the 5,000 suburbanites-men, women and children-looked ready for weekend chores in house or garden. Instead, they were on their way to help thousands of New York City slum dwellers clean, repair, paint and decorate 43 of the city's grimiest, grittiest blocks. By nightfall, when residents gave their guests an outdoor buffet, the scabrous streets were conspicuously cleaner and perhaps a little more habitable, with balloons waving from fire escapes and pastels brightening alleyways...
...first mandatory high-risk pool to provide insurance for ghetto businessmen and residents was signed into law by Governor Nelson Rockefeller. Starting Sept. 1, insurance companies in the state will contribute to a joint underwriting fund to share losses. A bill to establish federal riot reinsurance for slum areas, still pending in Congress, may lighten the insurance companies' burden even more...
...from the Debris. While they look toward that kind of help, insurance companies plan to continue another phase of their operations in the ghettos. Since last September, when they pledged to divert $1 billion of their annual $16 billion flow of investments toward slum areas, over $350 million has been committed for a total of 26,588 housing units and 7,551 permanent jobs. Among the projects: a $4,500,000 low-income cooperative rising on nine acres of cleared land in debris-strewn Newark, $8,500,000 to construct 530 single-family houses in Chicago, and $15 million...
Such contributions, to be sure, are no giveaway. Housing loans are insured against loss by the Federal Housing Administration, or backed by a state agency, and provide for a 6% annual return. But as slums are renewed with insurance company help, the insurers figure that slum businesses will once more become reasonable risks...