Your guide to NYC's public proceedings.
AGENCY TESTIMONY
Economic initiatives addressing the racial wealth gap
0:17:06
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74 sec
Sideya Sherman outlines various economic initiatives aimed at addressing the persistent racial wealth gap and promoting financial stability for Black New Yorkers.
- Highlights the administration's focus on affordability, housing, jobs, and putting money back in New Yorkers' pockets
- Details the Save for College program, which has invested $42 million in scholarship accounts for over 280,000 students
- Mentions place-based initiatives, including partnerships with NYCHA to support entrepreneurship and asset building for public housing residents
Sideya Sherman
0:17:06
The persistent racial wealth gap continues to hinder progress for our black New Yorkers.
0:17:12
Addressing this issue requires access to quality jobs, financial stability, and the asset accumulation necessary for true economic security.
0:17:21
From day one, this administration has been focused on affordability, providing prioritizing affordable housing, jobs, and putting money back in the pockets of New Yorkers.
0:17:31
We are particularly proud of our partnership with NYC Kids Rise in New York City Public Schools on the citywide expansion of the Save for College program.
0:17:39
Right now, over 280,000 students have NYC scholarship accounts with 42,000,000 invested towards their higher education and career training goals.
0:17:48
What's most exciting about this effort is that our city now has the infrastructure to invest collectively, government, private sector, and community in the future of our students.
0:17:58
Our office is also focused on advancing place based initiatives, recently partnering with NYCHA to invest in a series of programs that support entrepreneurship, career training, and asset building for Bronx based public housing residents.
0:18:13
We are committed to continuing to expand our programmatic efforts, but we acknowledge that programming alone cannot address systemic inequities.