San Francisco Police Department to Lose $3.75 Million In Funding as Money Is Reallocated to Black-Owned Businesses
San Francisco Mayor London Breed has announced $3.75 Million of the San Francisco Police Department Budget will now be invested into Black-Owned Businesses according to San Francisco Chronicle. Breed made the announcement on May 5, that $3.75 million of the San Francisco Police Department’s budget will be funneled into Black-owned businesses as a result of a reinvestment by the Office of Office of Economic and Workforce Development and the San Francisco Human Rights Commission.
Breed says the funds will be reallocated as part of an effort to address generations of race-based inequality in the city.
“Across this country, and in our City, we’ve seen how the Black community’s economic growth and prosperity has historically been disrupted and marginalized,” Breed said in a statement. “This funding is part our efforts to undo the harm of generations of disinvestment and economic inequities. As we work to recover and make San Francisco a better place to live, work, and do business, we have to invest our resources in a way that lifts up and supports African American small businesses owners, entrepreneurs, and the entire community.”
The investment is part will be apart of the Dream Keeper Initiative, which Breed started last year following the death of George Floyd, with the plan of redirecting $120 million from the police budget to the Black community for fiscal years 2020-21 and 2021-22. The $3.75 million won’t be invested directly from the OEWD into individual businesses, 17 Black-serving community organizations have received funding to support the economic development of Black businesses in the city.
The organizations include the” San Francisco African American Chamber of Commerce, Children’s Council of San Francisco, En2action, Mercy Housing California, Bayview Opera House and the San Francisco Housing Development Corporation.”
In particular, the investments will be aimed at helping Black entrepreneurs start and grow their businesses.
“This funding represents an investment in the community and addressing the wealth and opportunity gaps created by years of biased policies and approaches,” said Sheryl Davis, executive director of the San Francisco Human Rights Commission. “There is tremendous talent and potential that has been stifled by our biased policies and strategies; through this process we will see the implementation of creative and innovative programs that have the potential to support and benefit all of San Francisco and not just the Black community.”
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