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Renamed ShoreBank in 2000, it was the nation's first community development bank. During its 37 years of operation, ShoreBank played a critical role in stabilizing and rebuilding many of Chicago's low-income neighborhoods and eventually expanded globally, setting the standard for the development finance industry.
The Social Science Research Committee at the University of Chicago defined the community areas in the 1920s based on neighborhoods or groups of related neighborhoods within the city. In this effort it was led by sociologists Robert E. Park and Ernest Burgess , who believed that physical contingencies created areas that would inevitably form a ...
There is the highest percentage of people living in poverty and the lowest per capita income in the city. [7] In 2015, the community's per capita income was $11,515 compared to the poverty threshold of $12,082. [7] Numerous manufacturing plants, steel mills, landfills, and waste dumps border the 190 acre Altgeld Gardens site.
The city of Chicago will soon open applications for a guaranteed basic income program supporting 5,000 low-income residents with $500 The post 5,000 low-income Chicago residents to get $500 ...
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The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
Gentrification, the process of altering the demographic and socioeconomic composition of a neighborhood usually by decreasing the percentage of low-income minority residents and increasing the percentage higher-income residents, [1] has been an issue between the residents of minority neighborhoods in Chicago who believe the influx of new residents destabilizes their communities, and the ...
The median income for a household in the city was $38,625 in 2000, and the median income for a family was $46,748. Males had a median income of $35,907 versus $30,536 for females. Below the poverty line were 19.6% of the population and 16.6% of the families.