Chicago City Wire

Mayor Brandon Johnson announced that the City of Chicago has been chosen to participate in the CityStart initiative with a focus on racial wealth equity. The initiative aims to develop strategies to help families and communities achieve financial stability. Mayor Johnson expressed his commitment to creating a thriving Chicago where all residents have access to the resources they need to thrive, stating, "My administration looks forward to participating in the CityStart Initiative and developing actionable, data-driven, and community-informed strategies to advance and launch our financial empowerment work."

Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund, highlighted the importance of local governments deploying financial empowerment strategies to improve residents' financial stability. He stated, "Our CityStart initiative facilitates deep engagement between local governments, residents, and other stakeholders to create a community-informed plan for transforming residents’ financial lives and advancing racial wealth equity."

Rosazlia “Ms. Rose” Grillier, Co-Chair of Community Organizing and Family Issues, commended Mayor Johnson for his efforts to ensure all Chicagoans have access to critical resources for wealth-building, emphasizing the importance of inclusion in promoting equity.

Ameya Pawar, Senior Advisor at Economic Security Project, praised the Johnson Administration for committing to a more inclusive approach to governing, stating, "Whether it’s through guaranteed income or public options, we’re excited to see how the Mayor’s Office will advance policies that make it easier for Chicagoans, particularly low-income Chicagoans, to have access to the money and resources they need to live resilient, prosperous lives."

Garnesha Ezediaro, leading Bloomberg Philanthropies’ Greenwood Initiative, emphasized the negative impact of racial wealth inequity on the economy and communities, stating, "Through our partnership with the Cities for Financial Empowerment Fund’s CityStart initiative, we’re equipping local leaders with tools and data to surface the needs within their local economies and create plans to help Black residents flourish financially and build intergenerational wealth."

Chicago, along with other selected cities, will receive technical assistance and a planning grant through the CityStart initiative to develop actionable strategies for financial stability, especially for Black residents. The initiative aims to foster shared learning among cities to address mutual challenges and promote wealth accumulation in historically underserved communities.

The City of Chicago's participation in the CityStart initiative is part of a broader effort to create innovative solutions to address historic challenges and barriers to wealth-building in Black communities. By leveraging insights from previous cohorts, Chicago aims to implement evidence-based, data-driven policies that promote financial well-being for all residents.