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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.
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.
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.
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Gentrification with a typical ranch house side by side with a bauhaus house in Dallas, Texas in 2020. Gentrification is the process whereby the character of a neighborhood changes through the influx of more affluent residents (the "gentry") and investment.
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 ...
A critique in the Du Bois Review (2004) by Arline Geronimus and J. Phillip Thompson calls the Moving to Opportunity study "politically naive". [11] Their study theorizes that moving a family into a higher income neighborhood might solve immediate, direct health risks (for example clean water, less crime) however the loss of social integration, stress factors, and racially influenced ...
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