<\/a>Crimes in the 90044 zip code of South L.A. from October 8, 2013 to October 8, 2014.<\/p><\/div>\n
According to Perfitt from Restore Neighborhoods L.A., it doesn\u2019t take much to spur harmful effects.<\/p>\n
\u201cOne bad apple in between a few properties, or a few of them on the same side of the street, can have some negative impact on property values and can be the source of problems,\u201d said Perfitt.<\/p>\n
Perfitt is trying to help reverse that. Restore Neighborhoods L.A. buys up foreclosed properties too \u201cblighted\u201d to restore, demolishes them, and puts up new homes or pocket parks in their place.<\/p>\n
His organization has largely relied on federal grants from the Neighborhood Stabilization Program \u2013 created on the belief that \u201cforeclosures in general and vacancies in particular can generate significant social costs in the form of increased municipal expenses and reductions in the value of nearby properties,\u201d according to the\u00a0report from the Federal Reserve of Atlanta.<\/p>\n
The goal is to spur investment in areas that wouldn’t\u00a0get much of it without help.<\/p>\n
\u201cWe\u2019re trying to be the vehicle that lenders can feel comfortable that we know the marketplace,\u201d said Perfitt. \u201cWe\u2019re helping to mitigate the risk that investors or lenders have about going into these areas.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The little teal house in Watts with the front garage and a concrete driveway was foreclosed early in 2013. Over the next year and a half, squatters invaded and wrecked the place. The trash heaped up into tall piles in the living room and hallways. \u201cIt\u2019s a drug house, the weeds are overgrown, it\u2019s blight,\u201d […]<\/p>\n","protected":false},"author":618,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/posts\/790"}],"collection":[{"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/users\/618"}],"replies":[{"embeddable":true,"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/comments?post=790"}],"version-history":[{"count":0,"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/posts\/790\/revisions"}],"wp:attachment":[{"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/media?parent=790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/categories?post=790"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/j469.ascjclass.org\/wp-json\/wp\/v2\/tags?post=790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}