Sustainable Renewal Model of Community Development Corporations in the U.S.

The restoration of decaying communities has always been a huge challenge because of the involvement of various stakeholders and social issues. At the beginning of 1940s, the U.S. neighborhoods and communities entered the stage of revitalization, getting through the implementation of Urban Renewal Program led by the market and Community Action Program led by the government. The former which was market-efficiency-oriented gave rise to the urban unbalanced development by the way of quick demolition and rebuilding. The latter turned into the way of social-equity-oriented development but got into the predicament of economic stagnation of communities. In order to solve the dilemma of the priority of efficiency or equity, the Community Development Corporations were formed in 1970s. They combined the private company and government systems and developed mixed strategies taking both efficiency and equity into account in four aspects of the corporation, namely subject structures, financial resources, conducting mode and monitor systems.

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ISBN
978-1-944214-31-9