Mayor Creates Trust to ‘Ensure Blacks are not shut out of reparations plans in Tulsa’

On June 1, the office of Tulsa Mayor Monroe Nichols announced the creation of the Greenwood Trust.  A trust is a legal arrangement where a trustee holds and manages property or assets for the benefit of a third party, the beneficiary, and may also be used to shield such assets from taxation and/or for bequeathing said assets to subsequent generations. 

“Today at the Greenwood Cultural Center and on Tulsa Race Massacre Observance Day, Mayor Monroe Nichols brought forward a plan for a Road to Repair that will help unify Tulsans and heal multi-generational wounds from the 1921 Tulsa Race Massacre, which stands as one of the worst race massacres in U.S. History,” the statement said in part.

The statement also stated that the private charitable trust “will serve as an avenue to encourage economic growth and development in North Tulsa, the historic Greenwood District, and surrounding neighborhoods, with a focus to address disparities experienced by Tulsa Race Massacre survivors, descendants, Historic Greenwood District and North Tulsa residents and businesses.” [MORE]