Word: landed
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Dates: during 1960-1969
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Most of the new towns that have gone up so far have been purely private efforts, often backed by insurance firms or big industrial corporations that can afford the enormous outlays required to assemble large land parcels and install the roads, sewers, power lines and other unprofitable facilities that must be built before residents can begin moving...
Under the new-communities clause of the 1968 Housing Act, the Department of Housing and Urban Development can guarantee $250 million in loans for land acquisition and development to those builders whose newtown plans meet standards prescribed by HUD. The department has already received 17 formal applications and has tentatively committed $30 million to Park Forest South, 28 miles south of Chicago. If the U.S. is to build similar new towns on a large scale, however, HUD officials think that broader legislation and a vastly larger federal role will be necessary...
...total of 35 million people in the next few decades. That would account for more than one-third of the nation's anticipated population growth. What is more, the new towns would occupy only 3,500,000 acres-a mere one-sixth of 1% of the total land area...
...riots of 3½ years ago. Last week the Commerce Department announced a $3.8 million loan for development of a 45-acre industrial park in the overwhelmingly black area, where unemployment is running up to 20% (v. 3.3% for the nation as a whole). On a scarred parcel of land now occupied by a railroad siding, some ramshackle houses and several squalid junk yards, 2,400 people may eventually be at work...
...park was conceived after the Southern Pacific railway company decided to convert much of its Watts right-of-way to industrial usage. The Commerce Department's Economic Development Administration joined the act by forming the nonprofit Economic Resources Corporation to acquire additional land and run the park. Headed by an aggressive Negro entrepreneur named Richard Allen, ERC's board includes eight other Los Angeles businessmen, one of them black...