Commentary: How To Pump More Life Into America's CitiesKeith H. Hammonds
It is a heady, expensive quest for urban rebirth. Since 1991, Cleveland has sparked construction of more than 2,000 homes by committing $20.3 million to a $120 million loan fund and offering property tax abatements of 10 to 15 years. Homes priced at $150,000 and up have sprouted in Hough and Fairfax, gritty inner-city neighborhoods. Retail development is helping to lure new middle-class residents from the 'burbs.
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