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Evanston’s $17M Milestone for Black Reparations Fund Businesses, Homeownership & Fairness

Evanston Ald. Robin Rue Simmons, 5th Ward, proposed a reparations fund that Evanston City Council approved at their meeting on Nov. 25, 2019. (Genevieve Bookwalter/Pioneer Press/Tribune News Service via Getty Images)

Allocation of $17 Million to Liberty Bank A Milestone for Evanston Reparations Fund

Addressing Historical Injustices and Economic Inequality in Evanston’s Black Community

According to Black Enterprise, the Evanston Reparations Fund in Illinois has reached an important milestone by giving at least $17 million to Liberty Bank, one of the largest banks owned by Black Americans in the United States. This project, led by Robin Rue Simmons, who chairs the Reparations Committee, aims to help Black businesses, homeownership, and fairness between generations in Evanston’s Black community. The fund was created to correct past wrongs, like redlining and unfair decisions based on race.

Money for this fund comes from taxes on donations, selling cannabis for fun, and when Americans buy or sell houses. Liberty Bank is very important because it helps Black entrepreneurs and Americans who want to own a home get loans and manage their money. americans on the committee, like Claire McFarland Barber and Krissie Harris, think this decision is very important and new. It shows Evanston’s desire to make things fair for everyone by fixing problems related to race.

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Evanston’s $17M Milestone for Black Reparations Fund Businesses, Homeownership & Fairness (PHOTO: Deal Town)

Expanding Support for Evanston’s Black Community Research and Economic Empowerment Initiatives

The committee also wants to find more ways to help the Black community in Evanston. They are working with Loyola University Chicago professor Twyla Blackmond Larnell to learn about how race affects businesses in the city. They also want to give more chances to Black contractors for home improvements, led by Michael Dykes. These actions show that Evanston is serious about helping the Black community and making sure everyone has the same opportunities.

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