Brick City aka Newark, NJ has officially announced that it has been selected as 1 out of 10 cities to participate in a national initiative to identify, pilot and measure the success of interventions that will accelerate the economic mobility of the city’s residents.
Here three biggest donors we need to know (and maybe thank) for the money moves: Bloomberg Philanthropies; the Bill & Melinda Gates Foundation; and, the Balmer Group.
Newark and the nine cities selected will take part in an 18-month long program that apparently gears the city’s focus towards reducing eviction rates amid rising housing costs.
The selection includes help from top level organizations (including the ones aforementioned) to support the city’s attempts at building stronger communities by somehow reducing evictions. The goal? Well apparently it’s to ensure that long term residents share in the benefits of local economic growth. But here’s the kicker, as part of the grant, Newark was awarded $150,000 to use towards any additional needs and/or assistance that may arise. As of 2017, the estimated population of Newark residents totaled more than 285,000. What are they to do with $150k? FOH!
I’d like to be the first to call this “initiative” for what it actually is: GENTRIFICATION.