Strategies: Racial Wealth Building

Provide funding for local community development activities such as affordable housing, anti-poverty programs, and infrastructure development

Provide education on basic budgeting, bank use, credit management, bankruptcy, credit building and counseling, homeownership, retirement, divorce, etc.

Require developers to reserve a proportion of housing units for residents with low incomes via mandatory requirements or incentives, such as density bonuses

Support subsidized asset accumulation programs in which deposits by participants with low and moderate incomes are matched by program sponsors; withdrawals must be used for qualified expenses to retain matching funds

Acquire, hold, manage, and develop properties such as vacant lots, abandoned buildings, or foreclosures, and transition them to productive uses, often affordable housing developments

Establish locally mandated wages that are higher than state or federal minimum wage levels

Provide funding via tax credits at the state and local level to support development and rehabilitation costs of low income rental housing

Support programs that provide matched dollar incentives for low or moderate income individuals to place some or all of their tax refund in a savings account

Require employers in an affected jurisdiction to provide paid time off for employees to use when ill or injured

Provide industry-focused education and job training based on the needs of regional employers within specific sectors