By M. Isi Eromosele
Since the 1960s, the poorest neighborhoods of New York, Philadelphia ,
Cleveland , Chicago ,
Los Angeles and many other cities
have seen the withdrawal of private capital. The most obvious signs of this
disinvestment are the rows of blighted properties, many abandoned by their
former owners.
Disinvestment was produced by a complex mix of social and
economic factors, including racial segregation and middle-class suburbanization. The
physical deterioration of neighborhoods was accompanied by other changes that
aggravated the downward spiral.
Left with increasingly poor residents, cities lost much of
their tax base and hence their ability to provide the high-quality public
services needed to sustain the flow of private capital. Economic change often
meant the loss of industrial jobs in inner-city neighborhoods.
Concentrations of poverty produced a kind of social isolation
of the poor that made it difficult for them to take advantage of mainstream
economic and social opportunities.
As communities declined, government agencies and private
foundations have pursued a variety of strategies to improve neighborhood
quality through investments in housing rehabilitation, commercial district
improvements, upgrades to the transportation and under-ground infrastructure, renovation
of parks and open spaces, and other activities.
The aim of these community development investments was to
improve the quality of the neighborhood for those who lived there and at the
same time, induce outsiders to make new investments, which in turn would
further improve neighborhood quality.
Most community development agencies understood that physical
revitalization alone would not be enough. Poor people needed opportunities to
learn job skills and find employment, and some public agencies and private
philanthropies turned their attention to business development, workforce
programs, and other efforts to help people seize economic opportunities.
Further, families with children needed immediate help with
educational programs, supervision of children after school, and other programs
to help ensure healthy and stable families. Therefore, many community development
programs also included these kinds of
social investments.
M. Isi Eromosele is the President and CEO of Oseme Group.
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