ECONOMIC POWER
We must move away from the notion that if someone is unsuccessful, they didn’t try hard enough, and instead examine the multiple systems that have contributed to the policies and disadvantages for people of color. Race Forward
The economic power of Black communities in San Francisco has been decimated by intentional disinvestment in and redlining of our neighborhood resources, citywide policies that specifically disrupted the Black economy (i.e. Redevelopment) and targeted, predatory, and inequitable capital practices and policies. We demand justice and restitution of black wealth through the reconstruction of a Black San Francisco economy.
POLICIES WE WANT
Rebuild Black Wealth through Redevelopment. All redevelopment land should be used for Black residents and commercial businesses.
Enforce Policies that Close the Racial Income Gap. Close the racial wealth gap in public and private workplaces, by advancing anti-discrimination enforcement in the salaries and wages of black San Franciscans.
Equitable Reinvestment Revenue Set-Aside. Establish a tax revenue set-aside similar to the Children’s Fund that is specifically invested in Black housing and economic development opportunities in San Francisco.
Black Business Capital Fund. Create a preservation and restoration fund for Black San Francisco businesses.
Eradicate Exclusionary Employment Practices. Audit companies and impose tax penalties on companies with $50 million or more in revenues employing fewer than 10% Black employees.
Regulatory and Capital Support for Non-Predatory Banks. End wealth-stripping of black communities by heavily regulating and eradicating subsidies for payday and corrupt mortgage lenders, rent-to-own stores, and all the other entities that prey on people experiencing poverty. Invest in capital supports for non-predatory capital sources that explicitly support black communities through equity capital, liquid savings, and credit, particularly black-owned banks.
Black Business Preferences and Prioritization. Create a black businesses preferences program for citywide contracts, including incentivizing the private sector to do the same.
Preservation Supports and Restitution for Black Family Wealth. Create a preservation and restoration fund for Black San Franciscans, providing access to estate planning, legal assistance, real estate counsel, and workout support for investable assets key to family wealth, including for black families victimized by predatory practices.
Quantifying the Impact of Racism on Wealth. In support of the Office of Racial Equity, direct the Assessor, Controller’s and Budget offices to quantify and provide a historical account of the impact of racism on black wealth in San Francisco.‘Cultural Fluency’ Civil Servant Waivers. Create a “Cultural Fluency” waiver, similar to the existing language waiver, for civil servant positions so that people Black people can be prioritized for civil servant jobs that will involve interacting with the Black community.
Require all businesses of a certain size that are headquartered in SF has at least one Black board member
Use a proportion of the cannabis tax revenue generated in SF to create and sustain a robust re-entry jobs/training program that center Black people. The proportion of the revenue used for this initiative should be related to the disproportionality of arrests and convictions in SF over the last 5 decades
Rebuild the “Harlem of the West” Fillmore corridor as a form of reparations for Urban Renewal. It is not enough to take Justin Herman’s name off the plaza. Reparations must be made
Black women carry a disproportionate share of the responsibility for the economic stability of Black communities, Develop programs and policies that increasing economic power for Black women.