RACIAL WEALTH DIVIDE IN INCOME

Charles Martin Youth Center, South Bend, IN
November 3, 2017, 6:00 pm, 
Present: Mayor Pete Buttigieg, Councilperson Regina Williams-Preston, Councilperson Jo Broden
Speaker: Dedrick Asante-Muhammad, Senior Fellow of the Racial Wealth Divide Initiative at Prosperity Now
* SB is 54% White, 27% African American, 13% Hispanic and 1.4% Asian American
* Hispanic households in SB have a 32.9% income poverty rate, 10 percentage points higher than the national Hispanic income poverty rate
* Hispanic home median values are $60K, 1/3 the national average
* Asian Americans in SB make half of the $74,245 annual median income for Asian Americans nationwide at $31,313 annually 
* Blacks make 1/2 of what White households make
* Blacks are 2 times more likely to be in liquid asset poverty than whites
* Black household income is $14K less than the national average and there is a 40.2% poverty rate
MEDIAN HOUSEHOLD INCOME IN SB:
* Black $21,242
* Asian $31,313
* Latino $35,318
* White $40,685
UNEMPLOYMENT RATE:
* Black 9.2%
* Latino 10%
* White 4.9%
HOUSHOLDS WITH ZERO NET WORTH:
* Black 37%
* Asian 16%
* Latino 24%
* White 16%
HOMEOWNERSHIP RATE:
* Black 35%
* Asian 51%
* Latino 63%
* White 68%
PROPERTY VALUES:
* Black 70K
* Asian (Not available)
* Latino 60K
* White 89K
RACIAL DIVIDE PARTNERS:
* Prosperity Now (formerly CFED) prosperitynow.org
* Racial Wealth Divide Initiative (RWDI) at Prosperity Now - Facebook "Racial Wealth Divide"
* City of SB, Human Capital and Inclusion
EDUCATION - Bachelor Degree or Higher
* Black 7%
* Latino 6%
* White 18%
Former Councilperson Henry Davis says the "Racial Equtiy Audit" done by the EEOC done every 2 years has steadily declined
Speaker Dedrick Asante-Muhammad says the focus needs to be at the State and Federal level
Also mentioned a "Tax Base Sharing" used in Minneapolis
Developing "Asset Development Ladders" would help
Mayor's Promised Action Items:
* Economic Development (to date has not benefited low income or Minorities)
* Continue to work with the WorkOne Pathways Program that meets every Friday
* Bring back the Minority Board which has not met for several years
* Ask City Purchasing to make more of an effort to purchase from Women and Minorities
* Use students in both Jr. High and High School for research and involvement
* Ask himself the "10 Questions" (See photo)
RECORDING OF THE FULL MEETING: 
YouTube: https://youtu.be/CH4sjd_Jn9w
AUDIENCE COMMENTS:
30 min - Mr. Brown
33 min - Henry Davis
39 min - Woman asking about Equalizing Wealth
42 min - Antonius
49 min - Young Woman
50 min - Mayor Pete
53 min - Pastor
56 min - Mayor Pete
59 min - Mayor Pete with Next Steps
UPCOMING MEETINGS:
Nov 16th, 6 pm, Harrison Primary
Feb 6th, 6 pm, Near Northwest Neighborhood Center
Apr 3rd, 6 pm, Robinson Community Center
June 7th, 6 pm, County-City Building
For more information and PDF on this contact: Christina A. Brooks [email protected]
For more Meetings and Articles: #MichianaObserver