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Can Gentrification Be A Tool for Community Development?

Can Gentrification Be A Tool for Community Development?
Public Affairs Luncheon
Tuesday, November 12, 2019 | 12:00 p.m. – 2:00 p.m.

Program Fee:
$20 Members in Non-Profit/Government/Academia/Students
$30 Members
$40 Non-Members

Many American cities are under fiscal assault. Rising pension costs, diminishing tax bases, and middle-class flight have created a fiscal cliff for many American cities. Chicago is facing unsustainable pension costs to municipal unions; Harrisburg (Pennsylvania) has completed a restructuring of its finances to avoid bankruptcy; and Detroit filed the largest municipal bankruptcy in American history. Gentrification is defined in the Webster’s dictionary as “the process of repairing and rebuilding homes and businesses in a deteriorating area (such as an urban neighborhood) accompanied by an influx of middle-class or affluent people and that often results in the displacement of earlier, usually poorer residents.” 

Given the lack of support for urban development from the federal government and the inability of many cities to finance a robust urban development program, gentrification may be the only way many cities can stave off the impacts of urban blight. Although gentrification arguably is an effective urban development program, it does indeed result in the displacement of certain low-income families. Mr. Poteat will discuss how gentrification can be used to reverse urban blight while minimizing the impact to disadvantaged residents. 

Ed Poteat is an adjunct professor of affordable housing at Columbia University, a successful affordable housing developer in New York City, and author of the book The Fiscal Cliff. 

Sponsoring Association Committees:
Public Affairs Luncheon | Frank Wagner, Chair
Senior Lawyers Committee | Barry Bloom, Chair

New York City Bar Association 42 West 44th St New York, NY 10036 UNITED STATES

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