Word: ura
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Opponents of the project--mainly businessmen now located in Kendall Square--have insisted that the area is not blighted and does not qualify for renewal funds. Despite the URA's decision, they hope to convince Congress that renewal laws are being misused and that NASA should be denied funds to build the laboratory...
...rejects the URA's programs because...
...Century Urbanity. Spending the taxpayers' money is a heady pastime, and no town is too small to hanker after a bit of sprucing up when the price is as right as the URA makes...
...almost did not come off. There was considerable opposition to reclaiming the area, which was not really substandard, though a number of flophouses there were attracting more and more derelicts. Then there was trouble raising the money to develop the land after buying and clearing it with URA assistance. At this point, the Travelers Insurance Co. stepped in to bankroll the whole $35 million needed. Its motives were solidly self-interested; Travelers' own nearby building, the tallest in town, gave the company a stake in the central city area, which had been rapidly losing business of all kinds...
...Council then directed the redevelopment committee to proceed with a feasibility study. The committee will file a preliminary application with the URA, and once it has approval of that, prepare a detailed application for final ratification...