ORDINANCE NO. 240696

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Sponsor: Councilmember Melissa Robinson

Adopting a definition of Equitable Economic Development and expressing Council intent for the comprehensive economic development policy to incorporate Equitable Economic Development along with specific Equitable Economic Development strategies.

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WHEREAS, in 2019, only 3% of all SBA loans went to Black-owned small businesses and only 7% to a Hispanic-owned small businesses; and

WHEREAS, just 18.3% of small businesses with employees are owned by people of color and only 2.2% are Black-owned; and

WHEREAS, people of color are more likely to face outcomes such as bankruptcy and foreclosure during economic downturns (e.g., the Great Recession and the COVID-19 pandemic); and

WHEREAS, two-thirds of Black Americans who grew up in impoverished neighborhoods are still in those neighborhoods a generation later, whereas only two-fifths of White Americans remain in such areas; and

WHEREAS, communities of color are more likely to be geographically located in environmentally high-risk areas and an analysis of Federal flood insurance payments shows that flooding is more common in Black communities; and

WHEREAS, economic developers must learn from history and work towards trust and partnership with their community to move forward; and

WHEREAS, intentionality to increase equitable outcomes for communities of color is crucial; and

WHEREAS, cross sector collaboration is needed to increase equitable outcomes; and

WHEREAS, the Council wants to ensure equitable economic development throughout the City and wishes to codify those principals; and

WHEREAS, the Council has begun the process of developing a comprehensive economic development policy and strategic plan, as evinced by Ordinance No. 240323; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the following definition is hereby adopted for equi...

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