Chicago Urban League Focuses on Solutions for the State of Black Chicago
Nearly 300 business and civic leaders will join the Chicago Urban League (Chicago, IL) for the 2024 Policy SUMMIT on Friday, May 17. This year’s breakfast event will focus on the “State of Black Chicago: Solutions” and take place at the Marriott Marquis Chicago from 8 a.m. – 10 a.m. Two panels will address wealth building as it relates to homeownership and careers. In addition to the thought-provoking panels, former U.S. Secretary of Housing and Urban Development Marcia Fudge will be honored with a Humanitarian Award.
“Last year during a special press conference, we presented findings from the State of Black Chicago. While we are committed to addressing problems directly, we are equally focused on presenting solutions, which is the focal point at this year’s Policy SUMMIT,” said Karen Freeman-Wilson, President and CEO of the Chicago Urban League. “We are happy to feature engaging panels from industry leaders, including some of the League’s own, that will tackle solutions to achieving wealth from a housing and workforce standpoint. It’s sure to be a great convening.”
In the 2023 State of Black Chicago report, it was cited that the racial gap in home values in the Chicago area increased from $50,000 in 1980 to an astounding $325,000 in 2020. This led to the Chicago Urban League establishing an Appraisal Bias Taskforce comprised of leaders from the mortgage lending, realtor, and property appraisal industries late last year. At SUMMIT, panelists will discuss the group’s work and offer recommendations during the first panel of the morning titled “Increasing Access to Homeownership as Wealth Building Tool.” Additionally, per the report, it was cited that the average annual income from Black households in Chicago was $35,965 compared to $82,294 for white Chicago residents. The second panel of the morning, “Family Sustaining Careers as a Wealth Building Tool,” will highlight the League’s daily efforts to train and certify Black Chicagoans in emerging industries with jobs that pay livable and family-sustaining wages.
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