THE BENEFITS AND TECHNIQUES TO MAKE IT HAPPEN
Tracy Hadden Loh is a Fellow at The Brookings Institution Metropolitan Policy Program-Bass Center for Transformative Placemaking.
She co-authored an inclusive neighborhood
revitalization report proposing that the federal government partner with state
and local governments to facilitate the local ownership of real estate in disinvested
urban and rural commercial corridors.
The report looks at more than $100 billion spent by Community Development Block Grant, empowerment zone and opportunity zone programs, plus a host of other federal spending programs and their relative failure at uplifting poor, marginalized communities.
Many of the failures are because the programs are directed at outside capital, which doesn’t deliver cash to local entrepreneurs that can build wealth in a poor community and who understand the unique needs of the community.
Funding zones also often are too geographically
broad, so money is not invested in the areas that need targeting the most.
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