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Vol. 34 No. 43
Garfield Park businesses forced to close due to crime,
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October 21, 2020
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austinweeklynews.com
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Also serving Garfield Park
@AustinWeeklyChi
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Redevelopment d l coming?, PAGE 11
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Systemic racism pervades loan industry experts say
Pervasiveness discussed during Black Caucus hearing on Oct. 15 By RAYMON TRONCOSO Capitol News Illinois
SPRINGFIELD — In Illinois and around the country, an increasing number of universities, investigators and researchers are turning up evidence of systemic racism in the financial sector that has plagued Black Americans for decades In June, a report from Chicago radio station WBEZ-FM and the nonprofit news organization City Bureau found that for every dollar banks loaned in a white Chicago neighborhood, they only invested 12 cents in Black neighborhoods. A 2019 Duke University study estimates Black Chicagoans lost between $3 to $4 billion in the 1950s and 60s due to predatory housing contracts. A 2013 Pew report shows that nationally, African Americans lost 53 percent of their wealth between 2005 and 2009 due to the collapse of the housing market. On Oct. 15, the Illinois Senate Executive and Commerce and Economic Development committees held a joint hearing on racial equity in lending and homeownership. The hearing was the latest in an ongoing series of hearings prompted by the Illinois Legislative Black Caucus agenda to end systemic racism. “The time is long overdue for Black households to be met with policies that uplift them and provide them with access to better credit and lending opportunities,” state Sen. Mattie Hunter, a Chicago Democrat who chairs the Executive See LOAN INDUSTRY on page 3
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LOOKING FRESH: Children gaze up at the newly repainted mural of slain Black Panther Fred Hampton in West Garfield Park.
Fred Hampton mural revamped to honor Black Panthers
Garfield Park mural repainted with new design dedicated to Black political struggle in Chicago By PASCAL SABINO Block Club Chicago
The mural honoring the legacy of Fred
Hampton, the slain chairman of the Illinois Black Panther Party, has been repainted with a new design dedicated to the history of Black political struggle on Chicago’s West Side. The new design was created by the same group behind the original mural of the civil rights icon. Organizers decided the time was right to paint over the deteriorating original mural since the country is reckoning with the same racial injustice and police violence that the
Black Panther Party fought decades ago. The original mural of Hampton was painted in 2010 at the intersection of California Avenue and Madison Street by artist Dasic Fernandez. Every element of the mural and the process to create it was politicized, according to Fred Hampton Jr., Hampton’s son. The mural faces westward and away from Downtown as a sign that his father’s legacy belongs to the people of the West Side, Hampton Jr. said. See FRED HAMPTON MURAL on page 13
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