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Resource ID: #3674
Subject: Urban Renewal
Source: New Republic
Affiliation: 
Date: 

Description

New Republic tells the story of a poverty program that works; details how the Shorebank Corporation (consisting of a bank, a real estate development corporation, a small venture capital firm and the Neighborhood Institute) turned around one neighborhood in Chicago; tells how it kept the area from slipping into disrepair without gentrifying it, and how the bank remained afloat with "development deposits," made by institutions and wealthy individuals sharing the bank's social goals, May 8, 1989.

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