Pilot Program Delivers Reparative Transfers to Black Americans for Wealth-Building

DETROIT, Nov. 1, 2021 /PRNewswire/ -- The chilling videos of the murders of George Floyd, Ahmaud Arbery, and Eric Garner, as well as a deeper understanding of the historic horrors like the Tulsa Race Massacres have reinvigorated the debate about what repair is required, and brought the word reparations to the forefront of a conversation in America.

Today, Reparation Generation launches as a new, citizen-driven approach to pursuing restoration for disenfranchised descendants of American slavery. They are a multiracial group of Americans proudly joining a national movement for truth and reconciliation. They seek to show reparations in action, and in turn, drive momentum to pass federal reparations for Black Americans.

Amid ongoing and acrimonious debate about the idea of reparations among politicians and the media, Reparation Generation was formed to demonstrate what reparations for Black Americans could actually look like in action. Their Black-led, white-financed strategy directs privately-funded "reparative transfers" to Black Americans for home ownership and other wealth-building pursuits.

Reparation Generation Co-Chair Kiko Davis Snoddy says, "Our vision is for this country that we love to become the "more perfect union" our nation's founders promised. Equity for Black Americans is good for all Americans. Systemic racism has kept the U.S. from reaching its full financial and economic potential."

How Reparative Transfers Work
Beginning November 1, 2021, Reparation Generation will make reparative transfers of $25,000 to up to 10 Black Americans who are descendants of slavery to be used for homeownership in the Detroit area. The recipients of these reparative transfers are not receiving a charitable donation, a gift or welfare. These financial transfers represent money that was never paid, was stolen, or denied to their families.

"The American truism that hard work equals reward ignores the social inequities that slavery and ongoing structural racism have created for Black Americans," says Reparation Generation Co-Chair David Mayer. Government-sanctioned discriminatory practices such as "redlining" and racial covenants denied Blacks the same home-buying, and thus wealth-building opportunities enjoyed by Whites. "Even today, a vast number of Americans wrongly believe that their ancestors simply reaped the benefits of their hard work. However, through a more careful reading of our hard history, it becomes clear that the same hard work by Black Americans more often than not resulted in little success in getting ahead."

Why Homeownership?
According to a 2016 Federal Reserve Board report, the average net worth of White Americans is $171,000, while the average Black family has a net worth of only $17,600. Financial experts agree the most prominent path to wealth building in the US is through homeownership, and Reparation Generation aims to support this growth with $25,000 reparative transfers for homeownership. Homeownership also fosters a sense of community, and encourages stability and business development.

Why Starting In Detroit?
Detroit became a Great Migration city as Black Americans, who were direct descendants of slaves, left the Jim Crow South. Detroit, equally famous as Motown or The Motor City, was a hub of American culture and Black prosperity. With the decline of the automotive industry, and the pernicious history of "urban renewal," institutional racism shifted resources to the white suburbs, and left a large portion of Detroit with a devastating decline in economic resources.

Today, Detroit is in the midst of a renewal. Reparation Generation's Black founders have selected Detroit as the location for their proof-of-concept pilot program, to establish the process, and to show the value of reparations.

https://www.youtube.com/watch?v=lNW-BWmU300

Why Now?
With an estimated $68 trillion in wealth in the U.S. about to change hands from one generation to the next, David Mayer says, "It is time we take an honest look at what we have, who we owe, and how we'll all benefit when the debt is repaid."

Kiko Davis Snoddy summarizes Reparation Generation by simply stating, "This is a gathering of fellow Americans coming together to help right a wrong that has been festering far too long."

To learn more about Reparation Generation and to listen to the "truth-telling" stories from the Founders, visit www.reparationgeneration.org

Media Contact:
Pam Perry
[email protected]
(248) 690-6180

Photos:
https://www.prlog.org/12891876

Press release distributed by PRLog

SOURCE Reparation Generation

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