Word: neighborhoods
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...Performing Arts was first proposed, in the mid-1950s, it was imagined as a sort of island of culture in the midst of Manhattan - a symphony hall, an opera house, a theater and a stage for ballet, all standing back a bit in their travertine glory from a neighborhood on the Upper West Side that still had some very rough edges...
...shiny and aloof was how they did performing-arts complexes back then, with lots of bright lights, white stone and dancing waters but not much connection to the neighborhood. In 1964 the Music Center of Los Angeles County was deposited into the nowheresville of downtown L.A., a part of the city where very few people actually lived. It wasn't just that the place didn't reach out to the neighborhood. There was no neighborhood to reach...
Those attempts to avoid moral hazard, though, might make the plan less effective in stemming the tide of foreclosures. "This goes a long way but not far enough," says Bruce Marks, who runs the Neighborhood Assistance Corporation of America, a nonprofit that works with servicers to restructure loans. After five years, the interest rate on modified loans can rise again, up to the industry average when the change is made, even if that pushes borrowers above the 38% payment-to-income ratio. The plan encourages but does not require servicers to make adjustments to principal balance - the generally acknowledged best...
...That's a lesson you can take from Intervale Green. The neighborhood was once a symbol of total urban decay - President Jimmy Carter made a famous visit to the South Bronx in 1978 when it resembled a bombed-out war zone. Life has improved considerably since, but the $39 million Intervale development still looks a bit out of place on its street. As Biberman leads a tour through freshly painted hallways, she points to the artistic tile work in the floors - sold by a New Jersey company looking to recycle leftover tiles - as well as the compact fluorescent bulbs that...
...until they left for Washington in 1861. The handsome clapboard two-story has been meticulously maintained by the Park Service, but that's only the beginning. The federal government also acquired four square blocks surrounding the Lincoln home and - after removing all post-Lincoln construction - is restoring the neighborhood to its mid-19th-century look...