Market forces alone haven't been able to generate needed investments in areas devastated by Katrina, and people have nothing to return to without those investments. A new idea has promise.
"New Orleans faces two chicken-and-egg problems that private markets don't know how to remedy. The first is how to get people to live in places where there are no jobs because there are no people living there. The second is how to get capital to rebuild damaged buildings in neighborhoods that are worthless because so many buildings are so badly damaged.
There's no private market renewing New Orleans because nobody has an incentive to move back or reopen a business or invest, because no one can be sure there will be enough other people moving back, reopening, and investing to make it worthwhile.
This is why an idea now being pushed by Republican Congressman Richard Baker, who represents Baton Rouge to the north of New Orleans, is so sensible. Baker wants to create something called the Louisiana Recovery Corporation. Essentially, it would buy property and mortgages at 60 percent of their pre-Katrina values, package them together in parcels that might be attractive to private developers, and then auction off the packages. The resulting revenues from developers would then replenish the fund."
Read the full story: Chickens and Eggs in New Orleans
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago breaks ground on $3 billion megadevelopment
The new neighborhood, titled Foundry Park, will one day host 3,700 residences.
This MA town is drowning in its own sewage — and residents like it that way
Susan Murcott, a waste water expert, said if Carlisle didn't address their leaking sewage, the problem could turn “deadly.”
Iowa taxpayers are paying thousands to clean manure out of their water
While the Clean Water Act makes states responsible for regulating factory farms that discharge pollutants, Iowa has turned a blind eye to the polluting farms.
Amtrak cuts ribbon on Seattle Airo maintenance facility
The $250 million, nearly 100,000-square-foot building can house an entire Cascades Airo trainset.
To power data centers, Google seeks autonomous control of thousands of homes’ electricity
The tech company has signed a deal to indirectly pay Mid-Atlantic residents to reduce their power demand when the grid is strained.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
The Architects Foundation
University of Cincinnati Online
Montrose County
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello