Nation: Flowing Again

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Only a few days after the nation's life insurance industry pledged $1 billion for investment in the ghettos, the Prudential Insurance Co. announced that ground will be broken in riot-scarred Newark next month for the first of the industry-sponsored projects. The $4,500,000 cooperative will house 1,000 people and be completed within a year, compared with at least 21 years for most projects financed by the Federal Government. "For nearly a generation," said Paul Ylvisaker, New Jersey's commissioner of community affairs, "the flow of private mortgage money into the cities has dried up. We're now beginning to see it flow again. This is what the public sector has been waiting for."