There is no doubt that the present economic recession threatens the progress that has been made in Main South’s revitalization efforts over the last twenty years. As credit dries up, sub-prime rates kick in and more and more property owners succumb to the current foreclosure crisis, the inevitable result is that we as a community will have to address the problems caused by the residual abandoned and unmanaged properties.

How to successfully address this problem is the challenge that we face for the coming year. It is encouraging to note however that the City, the Federal Government and the State are actively addressing this crisis. Quick action has been taken to provide resources to local communities to acquire and properly manage such at risk properties and by doing so to hopefully prevent the widespread arson and abandonment that we last saw in the 1980’s. The Board of Directors of the Main South CDC is committed to being an active participant in such efforts. It will direct the agency staff to seek out and purchase such “distressed” properties and stabilize them through undertaking necessary renovations and subsequently renting them as part of the CDC’s managed property portfolio. This will be our priority in the year to come.

Although it is necessary to take quick decisive action to protect the achievements made in the area to date, we must also keep in mind our strategic vision for ongoing development. We must continue the new housing development in the Kilby, Gardner and Hammond block and we must complete the athletic field that will complement the new Boy’s and Girls Club facility. Work will proceed on 93 Grand Street and the redevelopment of the mill complex that will offer new housing and employment opportunities for residents and grow the City’s tax base. We must also continue to ensure that that our neighborhood remains safe and involve our community as active participants in our public safety efforts.

These will be challenging times, but at least we have a framework in place to address the challenges and a Board of Directors and a staff that are committed to addressing the problem head on.

William T. Breault
President MSCDC