Tulsa mayor announces $105 million trust to address impact of 1921 massacre

Yahoo

2 days ago

(Reuters) - The mayor of Tulsa, Oklahoma, on Sunday announced more than a $100 million trust aimed at repairing and addressing the "systemic impacts" of the 1921 massacre that targeted African American homes and businesses.
The announcement was made on the 104th anniversary of the massacre, which started on May 31, 1921 and ended the following day, leaving as many as 300 dead.
"This is a critical step to help to unify Tulsans and heal the wounds that for so long prevented generations of our neighbors from being able to recover from the race massacre," Tulsa Mayor Monroe Nichols said.
The trust, which is named after the city's Greenwood District, where the massacre took place, will be created with the goal of securing $105 million in assets. It aims to secure those funds by the 105th anniversary of the attack on June 1, 2026.
Assets could include property transferred to the Trust, philanthropic funding and public funding, according to a statement from the city.
The focus areas for the trust include a $24 million housing fund to benefit residents of Greenwood and North Tulsa, and a $60 million cultural preservation fund aimed at improving buildings, among other things. Another focus will be a $21 million legacy fund for the development of trust-owned land and acquisition of land for the benefit of survivors and descendants of the massacre.
The first year of operation will focus on planning, the mayor said, adding initial staff will be hired for fundraising efforts.
"The Greenwood Trust is really a bridge that connects what we as a community can bring to the table and what the community needs," Nichols said in a statement.
"As we seek to make this framework a reality, I am eager to work alongside my fellow Tulsans and partners across the country to create a fundamental shift in how we further establish generational wealth, housing opportunities, and repair for so many Tulsans."
The Biden administration's U.S. Department of Justice in January said while there are credible reports that law enforcement was involved in the attack, it had no avenue to prosecute the crimes that occurred, citing the expiration of relevant statutes of limitations and the youngest potential defendants being more than 115 years old.
(This story has been refiled to add a missing word in paragraph 1)