VISUALIZE UNIQUE SHOPS AND A VIBRANT CORRIDOR
Historic mainstays like LaBranche Pharmacy and the Circle Food Store anchored North Claiborne Avenue during its heyday. Even though I-10 destroyed the vibrant commercial corridor, lifting the avenue back up is possible through strategic reinvestment. The the Community Reinvestment Act (CRA) is key to returning Claiborne to its glory. The CRA is a law that requires banks to serve the credit needs of communities where they take deposits, including low and moderate-income communities. The law was passed in 1977 to reverse redlining patterns and promote neighborhood revitalization. CRA makes wealth building more accessible by creating access to responsible home ownership opportunities, basic banking services, capital for small businesses, and small business development. It also calls on banks to support affordable housing, social services and neighborhood stabilization. Since its inception, advocates such as the National Community Reinvestment Coalition (NCRC) have used the CRA to secure trillions of reinvestment dollars for under-served communities.
URBAN DEVELOPMENT PATTERNS
Photo: Historic New Orleans Collection