Cincy Reporter

The Cincinnati Financial Freedom Blueprint is the culmination of a yearlong collaboration with the Mayor’s Office and City Administration to develop a strategy to address the racial wealth gap in Cincinnati. The goal of this blueprint is to ensure every resident in Cincinnati has the opportunity to achieve financial freedom through asset ownership. 

In 2022, the City of Cincinnati was selected by the national nonprofit Cities for Financial Empowerment Fund’s (CFE Fund) CityStart initiative to create a blueprint to help address the financial empowerment needs of residents and the opportunities to meet those needs, prioritizing the financial stability needs of Black residents. As part of the CFE Fund’s CityStart initiative, which is supported Bloomberg Philanthropies’ Greenwood Initiative, the City received a $75,000 planning grant, as well as extensive CFE Fund technical assistance. The goal of this blueprint is to lay out evidence-based investments and policies that the City will pursue to address this inequity, particularly gaps in asset ownership and to lay the groundwork for future partnerships. 

Under the sponsorship of the Mayor’s Office, a cross-departmental team, led by the Office of Performance and Data Analytics (OPDA), designed and underwent a yearlong process of data collection, community engagement, and research to understand the goals and barriers that were most pressing to the community. The goal of this process was to answer one central question:  

“What is the City uniquely positioned to do to address the racial wealth gap and help all its residents gain financial freedom?”   

The Cincinnati Financial Freedom Blueprint

READ THE FULL BLUEPRINT HERE

Original source can be found here.