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MS OF DVIEREST RELATED TO iD RALSED
Ae git .aes * ARTES ops ey peers
EDICGTE SUBGOM SALES Oo 3 Siew a ave fe= thE: GAL eed
Tne Kivicoflf subcommittce resumed today lts benrvings on the proper
role of the fedsral governzent in the attack ca urban problems.
Senunter Rioleor? relessed & list of 37 whlinceses who will enpear
before the subocnalttes Curing the poerlod Novemoor 9-December 15.
A copy of the list is attached.
David Rockefeller, Prasident of the Chate Manhatten Bank, was the
sole witness at this mornings’s seasion. Mr. Nachkefeller @eserlbe
several efforts by private busincsocs in the ficla of urban rensbilitae
tion which indicate that the private sector has the eapacity for ine
erenced participation Im the solution of uvoen problems. He discussed
the factors influencing the macunt of business involvement in the .
eifairs of the city. Tha main points raiaed In his testimony and
éuring the questicsing seriod wexe the following;
1. The Need for Commercially Orilentated Redevelonment
Mr. Rockefeller stressed that usiess urben redevelopment projects ia
thea central cities gonerate aubstmmtlal tax revcnucs thoy will have
@ harufal impact on the Sinancial position of the city as a who
ae The Promor Role of Businesses in the Solution of tirbsen Problets
Mr. Rockefeller écclarad thet urban rehabilitation is primorily th :
joo of private enterprise.
3. The Nesd for Governmmt Eaccuronemens of Risiness Fertictuation
in Urban Tevelonment
Mr. ‘Rockefaller maintained tint greater govermaent encouragement of
business participation in urban Gevelupuant le necessary. fin calicd
for tax incentives to encourage investment in urban rehabilitation
Note } as well as closer Liason between government units and the private
h, ous Estsbitennont of a Pusinens AAvinory Comittee to the
a ra OP aS ee ee pave 5: ceca reacreae eta e IN
oe rte, Le ats fe Lee = ee x
retery of Pouging ond Urban fevelorment
Mr. Rockefeller urged that consideration be given to Suiting up &
group from the business and financial community which would advice
the Secretary of Housing and Urban Developient. He noted Sha &
eivicory group assists the Seerctary of the Treasury on International
Monetary Arranges. ots.
5. The Advisibility of Establishing a "Comsat" Type Corporation for
Senator Javits expressed the hope that the atininistration finally
had realized the value of the "Comsat" approach to housing problems.
Mr. Rockefeller commented that the success of the original "Comsat"
undertaking is no guarantee that a sir approach would necessarily
succeed in the housing field. He st that participation by
private business in urban rehebilitat. will be assured only if a
profit can be realized.
6. The Action of FUMA in Moking Availoble $250 Million in Special
Senetor Ribicoff suggested that in view of the tightness of the money
market the total amount of special assistance funds authorized by
Congress should have been released.
Mr. Rockefeller stated that the administration polloy on special
assistance funds was reasonable.