0816_TOEFL-Test-and-Score-Manual-1997

Management Strategies ● 33
Thousands of deteriorating and abandoned communities have been
revitalized by funds and technical assistance provided by the program.
Since it began in 1976, more than 2,000 communities in the United States
and Puerto Rico have received help.
Cumulatively, the commercial districts taking part in the Main Street
program have generated more than $48.8 billion in new investment, with
206,600 in building rehabilitations and a net gain of more than 391,050 new
jobs and 87,850 new businesses.
Every dollar a community uses to support its local Main Street program
leverages an average of $25 in new investment, making the Main
Street program one of the most successful economic development strategies
in America.
Main Street offers a four-point revitalization framework appropriate
for communities of all types.
Communities across the country are revitalizing their downtown
areas in a variety of ways. Peekskill, New York, for example, has created a
downtown area filled with art galleries and art schools. Affordable rent and
remodeled lofts are luring many artists from Manhattan and other areas,
city officials said. Venice Beach, California, revitalized an ailing business
district by encouraging galleries to move in, creating a mecca for art lovers
along Abbott Kinney Boulevard.
White River Junction, Vermont, once a shabby railroad town, now boasts
one of the coolest boutiques in New England. Revolution sells amazing
vintage and designer clothing, as well as hosting wild fashion shows with
customers modeling the clothes. Co-owner and self-proclaimed “revolutionary,”
Kim Souza hosts standing room only Oscar®-watching parties and
lots of community events.
Down the street from Revolution, artists, printmakers, body workers,
and health care practitioners coexist in the Tip Top Building, a
former bakery, completely renovated by architect, actor, and filmmaker,
Matt Bucy. The Tip Top Café, located in the lobby, offers delicious
bistro cuisine and a cozy ambience that rivals the trendiest Manhattan
restaurants.
For small retailers, moving downtown has many advantages. You
can set your own hours and operate your store without being restricted
by mall regulations. Rents are usually cheaper in downtown business
districts.