SR0432 96TH GENERAL ASSEMBLY

SR0432 LRB096 14638 GRL 29479 r

SENATE RESOLUTION

WHEREAS, Chicago, Illinois, the third-largest city in the United States, is a thriving center of business, industry, and culture; and

WHEREAS, The Chicago Urban League has stated that "Chicago will be the new Black Wall Street. 75th Street east of the Dan Ryan Expressway is one commercial strip that has 80% or more businesses owned by African Americans. It is the prime example of a Black Wall Street District in Chicago."; and

WHEREAS, Since the early 1940's, African American businesses have thrived on East 75th Street, bringing quality products and services to the community; in subsequent years, these business owners saw a growth in their profits as they were able to sustain a comfortable way of life for themselves and their families; with the downturn in the economy over recent years, some of the businesses that once flourished on 75th Street are now facing financial difficulties; and

WHEREAS, It has been determined, by the members of Black Wall Street-Chicago, that the community will utilize the template of Black Wall Street-Oakland and will help build the business capacity of African American businesses on East 75th Street in Chicago; and

WHEREAS, History will show that Black Wall Street-Chicago continues the rich historical tradition of growth and prosperity with the original "Black Wall Street District" in Tulsa, Oklahoma; during the early 1900s, the area reportedly used "black dollars" instead of U.S. currency to do business inside the district; in 1921, the Tulsa Race Riot, one of the nation's worst acts of racial violence, occurred; many African American business owners and the residents of Greenwood were burned out, shot, kidnapped, and killed in the early hours while they slept; the neighborhood has never fully recovered, but two blocks of the old neighborhood have been restored and are part of the Greenwood Historical District; and

WHEREAS, Black Wall Street-Chicago recognizes the potential to recreate on East 75th Street in Chicago the positive aspects of the historic Black Wall Street District in Tulsa, Oklahoma; through the organization's mission to sustain and increase black businesses, 75th Street is achieving stability and is one of the only business districts that has African American ownership in parity with its population; and

WHEREAS, 75th Street is currently undergoing a revitalization to cultivate a pedestrian-friendly, urban experience on the south side of Chicago, similar to the makeover in the southern portion of downtown Chicago; the Black Wall Street District on 75th Street includes a family bowling alley, vegetarian and vegan restaurants, barbeque and soul food restaurants, an ice cream shop, women and men's clothing and shoe stores, and barber and beauty shops, among many other flourishing businesses; and

WHEREAS, A comprehensive plan to help sustain black-owned business has and continues to be developed by Black Wall Street-Chicago; the plan continues to be developed during weekly meetings of the group and during Black Wall Street Economic Summits, which have been held quarterly since March of 2007; and

WHEREAS, Black Wall Street-Chicago held a ribbon cutting ceremony on August 29, 2009 to designate 75th Street east of the Dan Ryan as a Black Wall Street Chicago District; therefore, be it

RESOLVED, BY THE SENATE OF THE NINETY-SIXTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we recognize Black Wall Street-Chicago as a premier organization in the State of Illinois and celebrate the recognition of a Black Wall Street in the City of Chicago; and be it further

RESOLVED, That a suitable copy of this resolution be presented to the members of Black Wall Street-Chicago as a symbol of our esteem and respect.