Private Enterprise in City Rebuilding

October 4, 1967

Report Outline
Funds for Low-Cost Housing in Cites
Private Experiments in Urban Renewal
Schemes to Boost New Jobs and Business

Funds for Low-Cost Housing in Cites

The johnson administration has decided to seek help from private enterprise in meeting the urgent requirements of urban slum areas. This is the import of President Johnson's Oct. 2 announcement of a federal test program to attract more private help in creating jobs in areas of hard-core unemployment. Businesses willing to build or expand in a ghetto will find some of their risks reduced by a number of types of government assistance. To succeed, the President said, the venture will require “the concerted action and involvement of the private sector working closely with the federal government.”

Riots in a number of cities this past summer make it clear that measures to better the quality of life in slum districts are desperately needed. Yet federal funds are severely limited by the costs of the Viet Nam war—and by the unwillingness of the 90th Congress to step up federal appropriations for antipoverty programs. Under present conditions, the only alternative may be for private business interests to lend a hand on a multi-billion-dollar scale. David Rockefeller, president of the Chase Manhattan Bank, told the Subcommittee on Executive Reorganization of the Senate Government Operations Committee in November 1966 that it was “well to recognize that, in improving our cities, capital investment is needed on an immense scale—an estimated $5 of private capital for each dollar of public funds.”

At the same time, Mayor John V. Lindsay of New York City has insisted that no one forget that “We need vigorous national support if we are to redeem the debt the nation has incurred through a century of neglect and oppression.”

ISSUE TRACKER for Related Reports
Urban Planning
Jul. 27, 2012  Smart Cities
Apr. 09, 2010  Earthquake Threat
Apr. 2009  Rapid Urbanization
Jun. 23, 2006  Downtown Renaissance Updated
May 28, 2004  Smart Growth
Oct. 03, 1997  Urban Sprawl in the West
Mar. 21, 1997  Civic Renewal
Oct. 13, 1995  Revitalizing the Cities
Jun. 09, 1989  Not in My Back Yard!
Apr. 28, 1989  Do Enterprise Zones Work?
Nov. 22, 1985  Supercities: Problems of Urban Growth
Jul. 23, 1982  Reagan and the Cities
Nov. 18, 1977  Saving America's Cities
Oct. 31, 1975  Neighborhood Control
Nov. 21, 1973  Future of the City
Feb. 07, 1973  Restrictions on Urban Growth
May 20, 1970  Urbanization of the Earth
Nov. 06, 1968  New Towns
Oct. 04, 1967  Private Enterprise in City Rebuilding
Feb. 10, 1965  Megalopolis: Promise and Problems
Mar. 04, 1964  City Beautiful
Aug. 21, 1963  Urban Renewal Under Fire
Jan. 21, 1959  Metropolitan Areas and the Federal Government
Jul. 30, 1958  Persistence of Slums
Dec. 09, 1953  Outspreading Cities
Nov. 22, 1952  Slum Clearance: 1932–1952
Jan. 14, 1937  Zoning of Urban and Rural Areas
BROWSE RELATED TOPICS:
Economic Development
Low Income and Public Housing
Regional Planning and Urbanization