The New York Times is reporting that if the Board of Directors at Merrill Lynch decides to remove E. Stanley O’Neal as the company’s CEO, he’ll get a lofty payday.  “Mr. O’Neal, the company’s chairman and chief executive, is entitled to $30 million in retirement benefits as well as $129 million in stock and option holdings, according to an analysis by James F. Reda & Associates using yesterday’s share price of $66.09. That would be on top of the roughly $160 million he took home in his nearly five years on the job,” according to The Times.  “Mr. O’Neal is struggling to retain his job in the wake of a third-quarter loss of $2.3 billion and an $8.4 billion charge for failed credit and mortgage-related investments,” reports Landon Thomas and Jenny Anderson, also of The New York Times. 

Over the past few weeks, I’ve had conversations with several people, including law enforcement, civic leaders, community activities, and concerned citizens about the homeless problem in Little Rock. Based on those conversations (and by virtue of not seeing my conversations go anywhere) I’ve crafted some ideas about to how to address the problem. The hope here is to spark a community conversation about the issue. It is by no means an indictment of current policy. Read. Forward. Discuss.

Department of Housing and Community Renewal.
The Department of Housing and Community Renewal (”DHCR”) would be led by a Director appointed by the Mayor. The Director’s role would be to administer programs and projects related to housing including homelessness and urban renewal. This department would replace the current Housing and Neighborhood Programs department.

Project 1: A Facility for the Homeless.
Earlier this year, in conjunction with the 150th Anniversary of the American Institute of Architects, several designers collaborated with policy professional to design a facility that would meet the everyday needs of the homeless. Such a facility, located in a convenient area, would integrate services often needed by the homeless, including: internet, telephone, laundry, storage, bathing, educational, and medical services as well as jobs programs and money management training. Integrating these services under one roof makes it far more likely that a homeless person can find a permanent way out of poverty.

Program 1: Housing Trust Fund.
In order to help people transition into permanent housing, Little Rock should develop a Housing Trust Fund (”HTF”). The HTF is a general fund that administers grants to those in need. Under this program, an individual or non-profit could apply for funds to assist with paying security deposits, moving expenses, back rent, or, in the case of the non-profit, rehabilitating properties, maintenance and upkeep. Currently,Homebuyer Assistance Grants, available through the City, only address the needs of low income people who want to purchase a home. The cap on the grants is $1,500. Additionally, the “Save-a-Home” program allows only for the City to purchase and refurbish a home. It does not allow for funds to be administered to non-profits who can leverage those funds to accomplish more. The Housing Trust Fund would meet these needs.

Program 2: Homeless Advocate Program.
The Homeless Advocate Program, administered by the DHCR, would provide a bridge between landlords and the homeless. The homeless advocate would work with the landlord to solve problems such as poor credit history.

Program 3: Targeted Job Training.
Unfortunately, providing low income housing is futile unless we ensure that there are job training opportunities available so that people can earn enough money to be able to pay their rent and other expenses. As such, the DHCR, inconjunction with AEDC , Ark. Dept. of Workforce Services and the Ark. Workforce Investment Board, together with area high schools, community colleges and vocational schools should launch a training initiative should develop job training programs and curriculum associated with targeted industries where jobs are in demand.

Program 4: Transitional Liaison.
Once people have been able to transition into full-time housing, we must have an infrastructure in place that ensures the availability of medical services and ongoing job training. Therefore,DHUR should create a Transitional Liaison who assists those in their first two years in permanent housing with making the transition as easy as possible.

Project 2: More Affordable Housing.
Little Rock needs to build more affordable housing in concentrated areas (i.e. downtown) so that those at or below the poverty level have an affordable place to live. Currently, Little Rock only utilizes HOME grants, administered pursuant to the National Affordable Housing Act of 1990. While the overwhelming growth, particularly in downtown has proved to be an economic engine for the area, there has been very little investment in low-income or subsidized housing in the eastern part of the city.

Program 1: Housing Development Fund.
The housing Development Fund (”HDF”) is a revolving fund that would provide loans to non-profit organizations to build low income housing. For example, the loans could be used forpre-development costs, site acquisition, construction/ rehabilitation financing, or other mortgageable project development costs.

Program 2: Preserve Our Neighborhoods.
Simply demanding that neighborhoods look out for themselves is an irresponsible and naieve approach to neighborhood preservation. Some of Little Rock’s most historic neighborhoods are crumbling. Take, for example, the Central High neighborhood. Once a thriving community, it’s complexion has been neglected for decades. Low income neighborhoods need help far more than neighborhoods like the Heights and Hillcrest (where I and my family live). You can look no further than the “Heights Promendade”, a sidewalk project which included an absurd Parthenon-esque structure. Sidewalks are good, cheap greek columns are not.

Little Rock should develop a “Preserve Our Neighborhoods” program that provides financial support to non-profit entities thatenagage in any of the following: home buyer counseling, tenant counseling, landlord/tenant mediation, neighborhood rehabilitation and renewal, crime watch programs, employment programs and legal assistance.

Whether you live in a college town or a professional sports town, real estate developers are targeting football-crazy clients with high-end condominiums. In Baton Rouge, Louisiana, home of the LSU Tigers, developers are constructing condos with a price tag of around $200,000 for a two-bedroom unit within walking distance of Tiger stadium. Developers including Gameday Centers Southeastern LLC are working to market condos near the University of Notre Dame and the University of Tennessee. Universities are benefiting from this as well. For example, the University of Georgia in Athens has taken in about $275,000 from sales of a condo complex that opened two years ago a few blocks from Sanford Stadium where the Bulldogs play football. By lending its name to a development, school teams get part of the purchase price, usually 1%.

In cities home to professional sports teams, developers are working in tandem with cities to build comprehensive neighborhoods which encompass the stadium. Victory Park in Dallas is being developed around the American Airlines Center which is home to the NBA franchise Dallas Mavericks. Similar mega developments are in the works: Westgate City Center in Phoenix, Arizona with the Glendale Arena and the home of the Arizona Cardinals across the street; Ballpark Village in St. Louis, Missouri, a $650 million urban neighborhood spanning six blocks next to the new Busch Stadium; Glorypark in Arlington, Texas, an urban village between Ameriquest Field and the future home of the Dallas Cowboys.