Program Seeks to Restore Black Neighborhoods
A new program by a local community development company seeks to rebuild African American communities.
Black Barter LLC is launching a unique partnership program to redevelop Black communities by creating financial partnerships directly between the community and developers, according to a recent press release.
We use a unique approach to pull resources from communities, said Parris Jones, founder and CEO of Black Barter LLC.
The organization does work all over the Chicagoland area. Neighborhoods of main concern on the citys west side include Austin and West Garfield Park.
The company is determined to reconstitute inhabitable homes and develop small businesses in African American neighborhoods by building equitable partnerships with the public and contractors.
I am excited about this new program we are introducing to help launch small businesses and rehab homes in the Black neighborhoods; while enabling the community to participate in equitable ownership, Jones stated in the release.
When asked how Black Barter bridges the gap between communities and developers, Jones responded, We are eliminating the need for banks. He continued by saying that it is difficult to get traditional lending to rebuild Black communities. The new program is a way to provide funding amongst ourselves to spur community redevelopment.
According to the Black Barter website, the organization provides an opportunity for community partners to pool funds together in order to purchase and rehab homes; while providing work to small businesses and affordable housing to Black communities. The mission is to rid Black neighborhoods of boarded, abandoned, and destroyed properties; and replace them with housing and neighborhood playgrounds.
The program creates win-wins for African-American communities by providing the necessary resources for entrepreneurs while enabling wealth opportunities for the community, and funding for home buyers, the release stated.
According to Jones, the program was launched because of the great need for community reform in Black areas. He cites the initiative as giving communities another vehicle to grow.
Black Barter LLC began in March 2010. Jones who is a private investor, saw that it was challenging to find financing for certain communities. Out of this frustration, the company was established.
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