National Urban League Centennial Conference Online: Promotes Economic Development
The National Urban League’s Centennial Celebration is taking place in Washington, DC, July 28-31. I’m watching the online stream of the conference and feel empowered. The conference has brought together some of the “leading business, community, and political figures” in the African American community. I am excited to see that the focus has shifted to promoting strong economic development.
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Buyer’s Remorse: A D.C. law helped tenants become owners. But it didn’t fix the sink.
From the outside, the humble brick three story at 1333 Peabody Street NW looks like most other aging apartment buildings in Brightwood. A number of the ancient single-pane windows are cracked. Inside, carpets are musty, paint is bubbling, and fixtures are coming loose.
“The kitchen areas, the bathroom areas, are urgent,” says resident Robert Adejayan, ticking off the needed fixes. “The windows, the pipes—it’s a whole bunch of little things.”
The renovations were supposed to have been done by now, he says. But residents can’t blame the landlord for neglect. That’s because they bought him out.
When the previous owner tried to sell the building to a condo developer in 2007, the residents exercised their rights under D.C.’s Tenant Opportunity to Purchase Act (TOPA) and bought it for $847,000. The money came from a 40-year, two-percent-interest loan from the city’s Housing Production Trust Fund, a pot administered by the Department of Housing and Community Development (DHCD).
Read the full article at WashingtonCityPaper.com »
Quick Links – May 10, 2010
Community Economic Development #ced2
- Long Overdue Change to Help Young Adults Get Coverage
- Where is everyone moving?
- One more youth program in Congress Heights just too much for neighbors [DC]
- New Alarm Bells About Chemicals and Cancer
- Poverty, low property values make it difficult to fund city services despite economic development [PA]
- Maryland already is home to six Fortune 500 companies. For now, at least, it will have to do without a seventh
- Santa Clara County Officials Want to Take Toys From Fat Kids [CA]
- Study: Raleigh-Durham area ranks high for biotech jobs, pay
- Housing advocates warned Councilmembers that the money used to build and renovate affordable units in the District will be completely out of money by the end of this year. [DC]
- Group opposes Wal-Mart plans for Marple center [PA]
- Virginia Beach expands development office
- Loudoun County’s Economic Development Focus Goes National [VA]
- Secretary of State of Maryland Welcomes Mina Mar Group to Maryland International Incubator Program [MD]
- Landrieu Sends Letter to SBA in Support of Small Business Owners Impacted By Oil Spill Disaster
- About 40% of freelancers had trouble getting paid in 2009
- The Charlotte Regional Partnership – as well as the state’s six other regional economic-development groups – face budget cuts [NC]
- Energy Efficiency Grants, $125K, Awarded by SBA to Assist Small Businesses
- Greensboro, High Point economic development groups to have first joint session
Technology
- Apple Confirms AT&T Has iPhone Exclusivity Until 2012
- Twitter to Launch Twitter Business Center [SCREENSHOTS]
- Everything You Need To Know About Who’s Using Twitter
- Surprising statistics about Twitter : 87% of Americans know about Twitter but only 7% use it
- Life in 2020: Your Dating History on Display and Other Faintly Disturbing Predictions
- 20 Twitter Directories to Find More Friends and Followers
- SkedgeMe Gives Small Biz Simple, Social Scheduling App
D.C. Hopes to Help 10,000 Residents Open Up Bank Accounts
Finally an attempt to counter the treacherous loan sharks like check cashing or rent-to-own “businesses” that practice predatory lending by charging between 300-2,000 percent interest. Learn more about other businesses that profit from targeting the poor.»
Approximately 12 percent of households in D.C. do not have bank accounts. Many cash checks at stores or gas stations that charge high interest rates. On average, these households spend $800 a year in fees.
A new program is designed to help lower-income residents sign up for checking and saving accounts.
The goal is to create 10,000 new bank accounts and, in the process, save District residents money, build credit histories and teach financial literacy.
Valerie Santos, the city’s deputy mayor for planning and economic development, said 13 banks and credit unions have agreed to waive many of the usual fees and requirements for opening accounts.
“There’s no monthly maintenance fee; there’s no monthly minimum balance requirements, and with a minimum opening deposit of $25 or less, people can continue to keep those accounts over time and keep money in their pockets.”
The participating banks and credit unions will also work with foreign born residents and those with a history of writing bad checks.
Source: NBC
Listen to the complete story at wamu.org
VIDEO: Q&A with Secretaries Johansson and Sanchez
Questions and Answers with Christian S. Johansson, Secretary of Maryland’s Department of Business and Economic Development (DBED)and Alex Sanchez as Secretary of Labor, Licensing and Regulation (SLLR) about the Job Creation & Recovery Tax Credit on March 25, 2010 at Saft America, Inc in Cockeysville, MD.