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A Cambodian poultry farmer who lost his livelihood could be a hero for others, rural Montanans are anxiously awaiting a court ruling over a climate lawsuit brought by young people, and Northeast states say more housing for working families could boost jobs.

AR capital receives grant money to improve Black wealth equity

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Wednesday, June 5, 2024   

The City of Little Rock is part of a national grant program designed to improve the financial status of Black communities.

The Cities for Financial Empowerment Fund's CityStart initiative works with local governments to create programs to help families become more financially stable.

James Owen, policy adviser and special project manager for the mayor's office, said they are being advised by Bloomberg Philanthropies' Greenwood Initiative, which has a mission to address systemic underinvestment in Black communities.

"This CityStart grant is an opportunity for us to mitigate and improve upon some of the policy failures of the past that have really led to some disparity when it comes to wealth and income in different parts of Little Rock," Owen explained.

Grant recipients receive $75,000 to address the issues. Other cities winning grants included Chicago, Philadelphia, Indianapolis and Buffalo.

This is the third grant the City of Little Rock has received from the Cities for Financial Empowerment Fund. All of them have addressed financial and wealth disparities. Owen noted the funding will allow them to hear from the people.

"We don't necessarily think that us sitting up at City Hall, that we have the answers," Owen acknowledged. "We want to hear from the residents, what are their financial pain points? And so we want to do that heavy community engagement work and talk to our residents so that we can address those directly."

Forty municipal governments have participated in the CityStart program in the past. Owen added Little Rock will study what other cities have done to see if similar programs might work there.


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