The Role of Wachovia
Wachovia Bank has played a major role in funding 'community planning' in various neighborhoods in Philadelphia. I think the relationship between the city, community development corporations/developers, and community organizations needs further exploration. I know of several community organizations that I feel are being bamboozled in their alliances with CDC's and developers. Especially when this is happening in neighborhoods in the early stages of gentrification, or next to neighborhoods that have already gentrified, I believe that residents should do more research before they enter into agreements to put their names on 'community plans' and therefore imply the community's consent. Here are some things to look out for:
What is the ratio of market rate to affordable housing in the community plan? If the plans call for twice or three times the amount of market rate as affordable housing, you can bet that as housing values in the overall neighborhood begin to reflect the market rate, more and more current homeowners and renters will not be able to live their anymore.
Is the community organization in charge of planning the affordable housing units, or are they put in the role of 'neighborhood beautification'? A lot of times the developers deal with the economics of the situation, and the community is put in charge of block clean ups and art projects.
Does the community organization get the power to control how any of the money from the planning grant is actually spent? Does the process seem equitable and fair, or it is a 'rubber stamp' situation where so-called experts make the plans and then expect the community to support it.
What are the concrete plans, in terms of grants, and supplements, to help long-time residents survive tax increases as the neighborhood "comes up"? If there are not community protections in place, the character of the neighborhood could drastically change.
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I am very concerned about the
I am very concerned about the issues you raise here. A number of community organizations such as Walnut Hill in West Philadelphia and the Girard Avenue Coalition have entered into a community planning process funded by Wachovia. Sometimes I think these developers make us think that we're crazy for questioning their logic. We have to continue to make sure that longtime residents can stay in their neighborhoods. I don't think that these community plans are really about that.
This is from the press
This is from the press release announcing the grant to Walnut Hill:
"The mission of The Enterprise Center Community Development Corporation (TEC-CDC) is to use market-driven real estate development to catalyze the revitalization of West Philadelphia. Simultaneously, TEC-CDC works in the surrounding Walnut Hill community to improve streetscapes, greening, and lighting and to reduce blight."
This sounds exactly like what you're talking about: market rate housing, and 'anti-blight' programs - but no jobs, or real opportunities, for the people already living in the neighborhood.
Wachovia bank up until
Wachovia bank up until recently was a lien holder of delinquent real estate taxes and held monthly foreclosures on many philadelphia homes.
A neighborhood community group Haddington/Cobbs Creek CDD recently received a sizeable grant from Wachovia. When several community people asked the CDC's Board & Management how was that money being spent (allocation) they refused to provide a direct and clear answer. One board member told me that "that's not a lot of money...". I believe the grant was for $650,000. My question was never answered. So, residents are purposely kept in the dark even when they question grant recipients how grants will be spent....in their own community. We are entitled to full disclosure, but instead we are systematically denied access to the truth about these grants.
Iagree, question , question
Iagree, question , question and question again. The drop in the bucket grants are just that, however the staff and board works for the community, full disclosure ore resign...thats the answer