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Resource ID: #7286
Subject: Urban Renewal
Source: St. Louis Post-Dispatch
Date: 1990-12-01



St. Louis Post-Dispatch tells the story of the botched renaissance of East St. Louis; one of the poorest cities in the nation, it is burdened with huge debt, steep property taxes, dwindling city services and high crime; the city issued $473 million in tax-exempt municipal bonds for building three projects--a luxury apartment complex, recycling plant and port--but construction never began, and bond money was returned to investors.

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