What’s New(s) in Legacy Cities

2015 is off with a bang!

Announcing three upcoming events plus our media round-up covering legacy cities news this month. It’s already been a busy year.

EVENTS

Urban Sustainability Meetups in Detroit, NYC (and SF and LA)
Meetups under the banner of “urban sustainability” have formed as informal groups of dedicated urbanists of all ages in cities around the country.  Staff from the American Assembly helped to organize the Meetup in New York which has an event this Sunday, January 25th at the Queens Museum on Urban Renewal, and its every-other month happy hour on Thursday, February 5. Also scheduled is an Urban Sustainability Meetup in Detroit on Thursday, February 5th.

Next City Vanguard Leadership Conference
Next City’s 6th annual Vanguard Leadership Conference will be in Reno, NV from May 6th to 8th. Applications are due on Feb. 8th, but you can save $10 on the application if you apply before Feb.… Read More

New Market Tax Credit Expires

By Stephanie Sung

The future of the New Market Tax Credit (NMTC), a federal subsidy for businesses and development agencies to encourage investment in underserved communities, is now unclear as the program expired at the end of 2013. NMTC officially ended at the close of 2011 but was quickly renewed. There’s no sign of extension this time around, though senators Jay Rockefeller (D-West Virginia) and Roy Blunt (R-Missouri) introduced legislation to make the program permanent in June.

Next City’s Bill Bradley has been covering the successes of NMTCs and recently wrote on what one distressed community in Chicago now faces with its recent expiry:

The loss of NMTCs won’t entirely scare off investors, but it could certainly give them pause. Southside Community Optimal Redevelopment Enterprise (SCORE), an organization on Chicago’s South Side, was awarded $20 million in credits in 2012. Joe Bakhos, SCORE’s community outreach director, expressed worry for how developers and investors will finance projects in low-income neighborhoods once the NMTC program expires.

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