Breakthrough for Democracy in the Heart of America, St. Louis, Missouri
Special Correspondent Rick Osbourne
On Friday, July 1st, 2022, Republican Governor of Missouri Mike Parson signed a bill that’s designed to dramatically reduce poverty (and a myriad of related problems) in an area encompassing some of the roughest neighborhoods in St. Louis, without costing the government a dime! Moreover, as this project (known as the Heart of America Project) unfolds, it’s expected to create tens of thousands of citizens who are suddenly ECONOMICALLY PRODUCTIVE members of the local community in ways they’ve never been before.
Senate Bill 772/House Bill 2400 was championed by State Senator Karla May in conjunction with local businessman Gene Gordon. Mr. Gordon, President of a not-for-profit organization called the Descendants of American Slaves for Economic and Social Justice (DAS4ESJ.ORG), was strategically supported by the Arlington, VA based not-for-profit known as the Center for Economic and Social Justice (CESJ.ORG). Together they crafted a BI-PARTISAN piece of legislation that attracted support from both sides of the political aisle.
Generates Investment Income for Local Residents
According to Gordon, “What makes this entity different from typical Community Land Trusts and similar non-profit community development vehicles, is that it will be FOR PROFIT, professionally managed, and it will make every permanent resident (from birth to death), a shareholder with equal voting rights and a dividend payout share.” In other words, as the local area is re-developed this Citizens Land Development Cooperative (CLDC) will PRODUCE INVESTMENT INCOME for local, permanent residents that will systematically lift them out of poverty and in the process, free them from various forms of government dependence.
|Norman G. Kurland
Monetized by Future Profits
Another unique feature is that the CLDC will have access through local commercial banks, to the discount window of its regional Federal Reserve Bank (such as the St. Louis Federal Reserve). Rather than relying on taxpayer funding or tax credits for the billions of dollars needed for land and infrastructure (that’s currently owned by local government) re-development, this CLDC will be able to MONETIZE FUTURE PROFITS to be generated from leasing the land, using the existing powers of the Regional Federal Reserve Banks. That is to say, all local, permanent residents will become owners of income-producing capital assets WITHOUT PAST SAVINGS requirements inhibiting their participation.
Duplicated in all 50 States
CESJ President Dr. Norm Kurland added, “We plan to duplicate this project in all 50 states and in all 12 Federal Reserve Districts. We expect it will be equally successful in urban and rural communities, as well as on Native American nations’ land.”
Unanimously Passed in IL House
The CLDC concept was originally developed by Dr. Kurland and was based on the ideas of lawyer-economist Louis Kelso. Similar legislation was passed in Illinois by State Representative Wyvetter Younge in 2008. She managed to get her bill passed unanimously (114 to 0) in the IL House. But sadly, both she and her bill died before getting it passed in the IL Senate.