A lawsuit filed in Oregon highlights the demolition of Black neighborhoods.

Bobby Fouther's childhood home is now a parking lot, the two-story, shingle-sided house razed in the 1970s along with many other buildings in Portland, Oregon's largely Black neighborhood.

"It was all about love growing up there," Fouther remarked.

Fouther and his sister, Elizabeth Fouther-Branch, are among 26 Black people who either lived in the neighborhood or are descendants of former residents who are suing Portland, the city's economic and urban development agency, and Legacy Emanuel Hospital for "racist" home destruction and forced displacement.

The case, filed Thursday in federal court in Portland, sheds light on how urban improvement programs and highway building typically come at the expense of non-white areas.

According to a 2020 analysis by Pew Charitable Trusts, a Pennsylvania-based nonprofit public policy firm, "in many cases, city and state planners purposefully constructed through Black neighborhoods to clear so-called slums and blighted regions."

People from racial minorities were frequently forced to reside in those communities as a result of "redlining" — banks discriminating against house loan applicants based on race — and even laws that enforced all-white zones.

According to the lawsuit, Fouther's great-aunt and her husband purchased a residence in the Albina section of Portland in 1934, which he and his sister visited virtually everyday.

Even after purchasing homes and establishing lives in Albina, many were compelled to relocate due to so-called urban regeneration and motorway construction.

Albina had previously been substantially demolished and broken up by the construction of Interstate 5 and Veterans Memorial Coliseum, the first home of the NBA's Portland Trail Blazers, in the 1950s and 1960s. However, an extension of the hospital was announced.

The Portland Development Commission razed an estimated 188 houses between 1971 and 1973, 158 of which were residential and occupied by 88 families and 83 individuals. According to the claim, 32 businesses and four churches or community organizations were also destroyed. 74% of forcibly evicted households were Black.

Comments

Proof has successfully raised $50 million in its Series A funding round, which was led by A16z.

Proof has disclosed that it has successfully finished a Series A investment round with a total value of $50 million. Andreessen Horowitz served as the lead investor for this round. Andreessen Horowitz was the driving force behind Proof's successful completion of a funding round that totaled $50 million (a16z). During the process of raising money, participation was also obtained from Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund. Prior to that, in the month of April, Seven Seven Six had already made an investment in the amount of $10 million in PROOF. In addition, the company shared information concerning the technology that is used to power its web3 platform, as well as ambitions for the expansion of the overall ecosystem. The company is now working on establishing a platform that will help NFT collectors collaborate with communities and unlock utilities. This platform will also help the company unlock new opportunities. Kevin Rose, Co-Foun...

IC Markets has appointed Andreas Skianis as global head of partners

Founded in 2007, IC Market is regarded as a "CLASSIC" foreign currency brokerage of the current period, with headquarters in Sydney, Australia. IC is a well-known and HIGHLY regulated (by ASIC) brokerage dedicated to providing market traders with the BEST trading experience possible. The brokerage firm is run by International Capital Markets PTY, and the headquarters are on level 6 of 309 Kent Street in Sydney. When compared to other other brokers in Australia, the IC market is widely regarded for offering the most leverage as well as the lowest spreads and costs. In addition, IC offers Futures, Commodities, and Indices. The IC Markets has strengthened its executive team with the recent appointment of Andreas Skianis as Global Head of Partners. Skianis began his new position with the organization this month and is headquartered in Limassol, Cyprus, according to his LinkedIn profile. "I'm excited to announce that I'll be starting a new position as Head of Pa...

What Does the Inverse Head and Shoulders Pattern Mean in Trading?

An inverse head and shoulders pattern, also called a "head and shoulders bottom," looks like a regular head and shoulders pattern, but it is the other way around. The head and shoulders top is used to predict reversals in downtrends. The price action of a security fits this pattern when it falls to a trough and then rises, falls below the previous trough and then rises, and then falls but doesn't reach the second trough. As soon as the last dip forms, the price goes up until it hits resistance at the top of the previous dips. What does "Head and Shoulders in the Wrong Direction" mean? When the price goes above the resistance of the neckline, investors usually start to buy. The shoulders are the first and third dips, and the head is the second peak. When the price goes above the resistance level, also called the "neckline," this is seen as a sign that the price will go up quickly. A lot of traders are waiting for a big jump in volume to confirm the brea...

Search This Blog