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Community Involvement

At the end of the day, the people living within the community are going to have to take responsibility for the conditions of their homes.  They, like me, have to be educated about the contaminants and pollutants that plague their homes and are quite possibly contributing to their low performance and under achievement.  Education is often frowned upon within the community because it is thought of as being ‘uppity’ or ‘bourgeois’; both are just signs of ignorance and are excuses that we as a people have tolerated because we have held others responsible for our health and safety.  Though the landlords and banking institutions could do more as a moral responsibility; the ultimate responsibility falls upon the residents.  

 

Solutions for the Residents:

1.      Before moving into the property, verify the date it was constructed to see if toxic hazards are present.

2.      If it was constructed prior to 1978, ask the owner if they intend to use green materials to rectify the situation.  If not, don’t move in to the property.

3.      Know your rights!  Read the paperwork before you sign it. Just because you are on section 8 does not mean the tenant has to live under toxic conditions.

Ministry Intervention

Habitat for Humanity, a nonprofit, ecumenical Christian ministry has actually impacted and revitalized the South Dallas Community.  They build sustainable, energy efficient and healthy housing for low-income families by using green building techniques and materials.  This is due to the Neighborhood Revitalization Initiative which helps the ministry condemn many homes built between 1939 and 1970.  As of September 2010, Habitat for Humanity reported having built over 800 homes⁸ within Dallas County.    That’s over 800 families who no longer have to live in asbestos insulated homes and drink lead contaminated water, constructed using wood and donned with lead-based paints. This means one ministry is outperforming two of the largest investment banks in the world.

Solutions:

1.      Allow banking institutions to financially support Habitat for Humanity out of the allocated CRA budget.

 

⁸Dallas Area Habitat for Humanity. Web. 14 Feb. 2012. <http://www.dallasareahabitat.org/c/document_library/get_file?folderId=48594&name=DLFE-1412.pdf>.

Corporate Intervention

According to Bank of America’s Community Development Lending and Investment goals, as of 2009 they had contributed $5,818,149³ toward affordable housing in the State of Texas with $1,392,729⁴ having been disbursed throughout Dallas County.  When you take that figure, $1,392,729 and divide it by the average sales price of homes in South Dallas as provided by Trulia, Inc., which is $29,933⁵ that averages to about 47 homes; at the maximum that BOA could have built out right within the community they serve. 

In relation to the Community Reinvestment Act, as cited by a J P Morgan Chase & Co. 2009 Community Responsibility Report, its Community Development Real Estate Division boasts of providing ‘$541 million in new credit commitments for affordable housing in 2009⁶.’  If you were to take that figure and divide it by the average home price in South Dallas, that would mean Chase extended credit for 18,000 homes nationwide which averages about 361 houses per state; and that’s at a sales price of $29,933. 

As you can see, the Community Reinvestment Act and the contribution of these particular banking institutions within the Fair Park area are not having an impact. Combined the two banks are ideally contributing - at best - to 80 homes within that community.  That’s liberal considering new construction in that area is almost non-existent.

Solutions: 

1.      As cited in a posting for a Personal Banker job description on the Chase website, ‘The Personal Banker is a branch based sales position whose primary goal is to acquire, retain and deepen customer relationships; As a Personal Banker, you will proactively meet with customers - face to face and over the phone - to discover their financial needs and provide product and service recommendations.⁷’     As personal bankers within the community, they should proactively go into the community and speak with business owners to see how Chase can invest in the neighborhood. 

2.      Mandate that banking institutions proactively survey the communities they are to serve to identify houses with physical and external obsolescence. 
3.      Provide a game plan as to how they intend to allocate part of their Community Reinvestment funds to rehabilitate those homes and businesses. 
4.    Stipulate an annual amount of the CRA budget that would be set aside for only new construction within the Fair Park Corridor and make those statistics easily accessible to the community both online and within the branch.

 

 

³Bankofamerica.com. Web. 14 Feb. 2012. bankofamerica.com. Web. 14 Feb. 2012.

⁴ Bankofamerica.com. Web. 14 Feb. 2012. <http://www.bankofamerica.com/community/pdf/ADA_1.5T_10-yr_summary_by_state.pdf>.

⁵ "Dallas Home Prices and Heat Map - Trulia.com." Trulia. Web. 20 Mar. 2012. <http://www.trulia.com/home_prices/Texas/Dallas-heat_map/>.

 

⁶ Jpmorganchase.com. Web. 20 Mar. 2012. <http://www.jpmorganchase.com/corporate/Corporate-responsibility/document/cr_full_report_05-14_01_noblurb.pdf>.

⁷Jpmorganchase.com. Web. 20 Mar. 2012. <https://jpmchase.taleo.net/careersection/2/jobdetail.ftl>.

Government Intervention

In our last discussion, we discussed that more than 85% of the homes within the Fair Park Corridor were built between 1939 and 1970¹.  These homes were constructed using wood, donned with lead-based paints, installed with lead pipes, insulated with asbestos, in addition to requiring gas as a utility for heating. Both awareness and solutions were provided on how to combat the environmental hazards that have inadvertently harmed the people and the environment; socially, psychologically, and economically.  Throughout this discussion, we’ll address what’s being done corporately and governmentally to improve the harmful effects of the built environment within the Fair Park Corridor.

Within 75210, 75215, and the 75223 zip codes lie two banking institutions, Bank of America^® and Chase^®.  According to the Modern Real Estate Practice in Texas text, in 1977, Congress passed the Community Reinvestment Act (CRA) which requires lenders to “participate and invest in local community development and rehabilitation projects, and participate in loan programs for housing.²”  

Though the Community Reinvestment Act appears to be working, as we will see throughout our study, it is not doing what the legislature intended.

 

Solutions:

1.      Re-enact the bill with an addendum for oversight of the Act to ensure bank participation by the municipalities with members of the community serving on the committees.

2.      Set an actual figure that each bank has to reinvest based upon the indexes and bank performances.

3.      Require banks to sponsor a minimum of one multi-family and single family housing new construction project within the community they serve bi-annually.

4.      Require banks to annually publish the project, dates, and community specifics of the development and rehabilitation projects they contributed to.

¹ "Fair Park Neighborhood in Dallas, Texas (TX), 75210, 75215, 75223, Subdivision Profile - Real Estate, Apartments, Condos, Homes, Community, Population, Jobs, Income, Streets." Stats about All US Cities - Real Estate, House Prices, Crime, Race, Income, Education, Maps, Schools, Neighborhoods, and More. Advameg Inc. Web. 26 Jan. 2012. <http://www.city-data.com/neighborhood/Fair-Park-Dallas-TX.html>. Note: Not credible source

² Nance, Cheryl Peat. "Chapter 6/Fair Housing and Ethical Practices." Modern Real Estate Practice in Texas. Chicago: Real Estate Education, 1998. 86. Print.

Carbon Monoxide

Problem: According to the U.S. Consumer Product Safety Commission website, carbon monoxide (CO) is “a deadly, colorless, odorless, poisonous gas. It is produced by the incomplete burning of various fuels, including natural gas.¹⁰” Products powered by carbon monoxide include ranges, water heaters, and portable space heaters.  As mentioned before, more than 85% of the homes within Fair Park use utility gas which means they use ranges for cooking, hot water provided by the water heaters for bathing, and in some instances, such as mine, portable space heaters to heat the poorly insulated and ventilated homes.  Because so much of their existence depends upon the use of the aforementioned products, they, as well as my aunt experienced “headaches, fatigue, shortness of breath, and dizziness.¹¹” I myself, fell victim to fatigue on several occasions due to use of portable space heaters.

Solutions:

1. Require property owners to purchase carbon monoxide detectors.
2. Require semi-annual or annual inspections by natural gas providers to homes built prior to 1978. 

 

^{10, 11} CPSC Home Page | Cpsc.gov. Web. 14 Feb. 2012. <http://www.cpsc.gov/>.

 

Mold

Because many homes have little or no ventilation, many of the residents have some type of mold in their homes.  Mold is fungi and needs moisture to grow.  Mold grows on ‘wood, wallboard, and insulation.⁸’  Since 85% of the homes are wood-framed, ranch style homes, with little or no adequate insulation, its residents experience a high volume of mold exposure each year.  Common health problems associated with mold are “runny nose, scratchy throat, itchy eyes, sneezing, and in more severe cases wheezing and coughing.⁹” While living with my aunt before her death, I can verify that she experienced the aforementioned regularly.  I myself, on occasion, experienced a few problems.

^{8, 9} Georgia Department of Public Health. Web. 14 Feb. 2012. <http://health.state.ga.us>.