Evanston Reparations Committee Announces Funds To Be Moved To America’s Largest Black-Owned Bank

by Sharelle Burt April 22, 2024 Let’s hope other reparation plans are activated in other cities! The Evanston Reparations Fund’s money will be held at Liberty Bank, one of the largest Black-owned banks in the United States. Reparations Committee Chair Robin Rue Simmons announced a minimum of $17 million will be transferred to the financial institution for residents of the Illinois suburb. The fund was created to support several initiatives, like the Restorative Housing Program, to increase homeownership and intergenerational equity among the city’s Black residents. Simmons says the measure will provide more support for businesses and homeowners. “Seventeen million dollars in a Black bank is going to give more lending power and access to Black businesses, Black mortgages and other forms of support,” Simmons said.  In what Simmons described as “the biggest deal since the passing of Resolution 126-R-19 in 2019” during a meeting on Apr. 4, the program has provided more than $4.5 million in funding to residents who were at least 18 years old between 1919 and 1969 and have descendants affected by redistricting and other racially motivated policies.  Funding is received through a city tax on donations, recreational cannabis, and yearly transfers of $1 million from...