In this April 2024 press release, the CFE Fund announced that a third cohort of five cities have been selected to join the CityStart initiative. The initiative helps local leaders develop and implement proven strategies to support local families and communities in building financial stability, with a specialized focus on racial wealth equity. Bloomberg Philanthropies’ Greenwood Initiative, whose mission is to accelerate the pace of Black wealth accumulation in the U.S., is partnering with the CFE Fund and selected municipal partners to design and execute this latest iteration of the CityStart initiative.

The CFE Fund will partner with local government leaders in Buffalo, NY; Chicago, IL; Indianapolis, IN; Little Rock, AR; and Philadelphia, PA to help craft innovative, actionable blueprints tailored to their communities that foster financial stability across generations, especially for Black residents. Each of the five cities will also receive a $75,000 planning grant to help address pressing issues in their localities related to rising gentrification, disinvestment in key historically Black neighborhoods, and the racial wealth divide.

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