IT'S ♪ ♪ ♪ ♪ >> Crossley: WELCOME TO "BASIC BLACK."

SOME OF YOU ARE JOINING US ON OUR BROADCAST, AND OTHERS OF YOU ARE JOINING US ON OUR DIGITAL PLATFORMS.

I'M CALLIE CROSSLEY, HOST OF "UNDER THE RADAR," 89.7.

TONIGHT: BUILDING COMMUNITY WEALTH.

WE, LIKE YOU, ARE DEALING WITH THE EFFECTS OF THE CORONAVIRUS PANDEMIC, AND ARE TAKING PRECAUTIONS.

WE ARE WORKING WITH LIMITED STAFF, AND OUR GUESTS ARE JOINING US REMOTELY.

BLACK AND BROWN HOUSEHOLDS OWN ONLY ABOUT 15% TO 20% OF THE AVERAGE WHITE HOUSEHOLD, ACCORDING TO RESEARCH BY THE FEDERAL RESERVE.

HOW TO CLOSE THE ONGOING RACIAL WEALTH GAP?

WITH AN INCLUSIVE MODEL OF INVESTMENT KNOWN AS COMMUNITY WEALTH BUILDING.

RESIDENTS OF BLACK AND BROWN COMMUNITIES COME TOGETHER TO INVEST THEIR MONEY, TIME, AND TALENT TO BUILD EQUITY IN THEIR NEIGHBORHOODS.

IS COMMUNITY WEALTH BUILDING THE ROADMAP TO ECONOMIC PROSPERITY FOR THESE COMMUNITIES?

JOINING US REMOTELY: NIA EVANS, EXECUTIVE DIRECTOR OF THE BOSTON UJIMA PROJECT.

TERI WILLIAMS, PRESIDENT AND C.O.O.

OF ONE-UNITED BANK, AND BOARD CHAIR FOR THE BLACK ECONOMIC COUNCIL OF MASSACHUSETTS, OR BECMA.

NIA GRACE, OWNER OF DARRYL'S CORNER BAR AND KITCHEN IN ROXBURY, AND THE UNDERGROUND CAFEÉ + LOUNGE AT NORTHEASTERN UNIVERSITY.

AND, TURAHN DORSEY, CO-FOUNDER OF THE JAZZ URBANE CAFEÉ DEVELOPMENT IN THE HISTORIC BOLLING BUILDING, AND A MEMBER OF THE GBH BOARD OF ADVISORS.

WELCOME TO YOU ALL.

TERI WILLIAMS I'M STARTING WITH YOU BECAUSE I WANT TO PUT EVERYONE ON THE SAME PAGE.

WHAT IS COMMUNITY INVESTING?

WHAT GO WE MEAN BY THIS MODE OF -- DO WE MEAN BY THIS MODE OF INVESTING, COMMUNITY WEALTH BUILDING, HOW IS IT DIFFERENT TRT KIND OF WEALTH BUILDING YOU WOULD DO INDIVIDUALLY?

>> FIRST OF ALL, THANK YOU FOR HAVING ME CALLIE.

SO YES, COMMUNITY INVESTMENT IS REALLY DIFFERENTLY IN THAT IT IS FOCUSED ON -- AND IT COULD BE A GEOGRAPHIC COMMUNITY, IT COULD BE A DEFINED COMMUNITY.

IN OUR CASE I THINK ALL OF US WOULD FOCUS ON THE GEOGRAPHIC COMMUNITY OF IN PARTICULARLY BOSTON, ROXBURY, DORCHESTER, MATTAPAN, SOME PARTS OF JAMAICA PLAIN.

BUT IT IS REALLY FOCUSSINGS ON A PARTICULAR COMMUNITY AND SAYING HOW CAN WE BUILD WEALTH IN THIS COMMUNITY?

AND THAT COULD BE THROUGH COMMUNITY DEVELOPMENT PROJECTS, AS WELL AS WHAT CAN WE DO FOR INDIVIDUAL FAMILIES TO HELP THEM BUILD WEALTH.

SO AND WE FOCUS ON BOTH.

>> Crossley: OKAY.

NIA EVANS YOU ARE HEAD OF THE BOCHT UJIMA PROJECT WHICH IS A MAY OR MAY NOT PA TRI MODEL, I'LL GET TO THAT IN JUST A SECOND BUT FIRST WHY IS THIS MODEL DO YOU THINK SO VERY IMPORTANT PARTICULARLY FOR BLACK AND BROWN COMMUNITIES?

>> THANK YOU CALLIE.

SO I THINK THIS MODEL IS PARTICULARLY IMPORTANT, FOR BLACK AND BROWN COMMUNITIES.

BECAUSE WHEN WE -- AND IMPORTANT PART OF COMMUNITY WEALTH BUILDING IS GOVERNANCE AND DECISION MAKING AND DECIDING WHERE OUR ASSETS AND OUR WEALTH, WHATEVER IT LOOKS LIKE, GOES.

AND WHAT WE'VE SEEN HISTORICALLY IS THAT IN BLACK AND BROWN COMMUNITIES WE'VE BEEN HISTORICALLY DISINVESTED.

SO THAT MEANS THAT OUR WEALTH AND OUR ASSETS THAT WE'VE WORKED HARD TO ACCUMULATE HAVE BEEN TAKEN FROM US.

AND HAVE BEEN PUT TO USES THAT HAVE NOT BEEN GOOD FOR OUR COMMUNITIES AND HAVE NOT MET OUR COMMUNITY'S NEEDS.

AND THEN EVEN JUST COLLECTIVE WEALTH, NOT NEXT WEALTH THAT IS OURS, WEALTH THAT IS THE SENSE OF THE CITY AND NEIGHBORHOOD AND NATION AGAIN HAS NOT BEEN USED TO PRIORITIZE MEETING THE NEEDS OF OUR COMMUNITIES.

SO IT'S IMPORTANT THAT WE LOOK TO MODELS THAT CENTER OUR NEEDS, THAT CENTER OUR EXPERTISE, THAT CENTER OUR EXPERIENCES, AND THAT ALSO ACKNOWLEDGE THE WEALTH THAT WE HAVE CREATED.

AND THAT ACKNOWLEDGE THAT WE SHOULD HAVE CONTROL OVER THE WEALTH THAT WE'VE CREATED.

>> Crossley: SO PICKING UP ON THAT NIA GRACE, ONE OF THE THINGS YOU ARE VERY INTERESTED IN BECOMING CONNECTED WITH THE UJIMA PROJECT AND PARTICULARLY THE JAZZ YOU'RE BANE CAFE AS ONE OF ITS INVESTMENTS, IS REALLY ABOUT BRINGING DIFFERENT VOICES TO THE TABLE.

AND IF YOU PICK UP ON WHAT NIA EVANS SAID, ABOUT PEOPLE IN THE COMMUNITY HAVING A SAY ABOUT IT, JUST EXPOUND ABOUT IT WHY THIS THEN IS VERY DIFFERENT FROM WHAT OFTEN HAPPENS IN THESE COMMUNITIES?

>> THANKS FOR HAVING ME AS WELL.

WHEN I THINK ABOUT THE SELF SUFFICIENCY THAT NIA ERCHES IS TALKING ABOUT, THE REINVESTMENT OF OUR COMMUNITIES, IT ALLOWS US TO REALLY FOCUS ON THE NEEDS OF AND THE DIRECT NEEDS OF PS AS A BUSINESS OWNER WE OFTEN HAVE AN IDEA AND WANT TO CREATE AND PROVIDE SOMETHING THAT'S OF SERVICE TO THE NEIGHBORHOOD, THAT WE WILL BE IN.

WE MIGHT OFTEN DO THAT IN SILOS.

AND SO IN THIS INSTANCE WE ARE ABLE TO HEAR DIRECTLY FROM THE PEOPLE WHO LIVE THERE, WHO WORK THERE, WHO ARE GOING TO FREQUENT THERE, WHO ARE GOING TO BE OUR DIRECT CUSTOMERS ON A REGULAR BASIS.

I THINK THAT IT ALLOWS US TO HAVE A BETTER FOOTING AS A BUSINESS.

TO MAKE SURE THAT WE ARE PROVIDING THE DIRECT NEEDS, AND ACTUALLY REALLY ANSWERING A CALL.

NOT ONE THAT IS SUPPOSE BUT ONE THAT IS TRULY INFORMED AND DIRECTED.

>> Crossley: OKAY.

AND TURAHN, ONE THING I THOUGHT YOU SAID WAS REALLY INTERESTING, FOLKS IN THESE COMMUNITIES ONLY EVEN KNOW INVESTMENT IF AT ALL FROM A KIND OF CONSTRUCTION AND ZONING PLACE.

NOT FROM A MORE I GUESS PROSPECTIVE WAY OF BEING INVOLVED IN MAKING THOSE DECISIONS.

TALK ABOUT THAT A BIT.

>> SO I THINK WHEN YOU TALK ABOUT THE DEVELOPMENT OF PLACES LIKE NUBIAN SQUARE WHICH IS GOING TO LOOK RADICALLY DIFFERENT IN FIVE YEARS WE ARE GLAD THAT THE JAZZ YOU'RE BANE IS COMING TO NUBIAN SQUARE WHEN YOU THINK ABOUT RICHARD TAYLOR'S PROJECT AND BENJAMIN FRANKLIN COMING TO NUBIAN SQUARE, A LOT OF THE CONVERSATIONS ARE ABOUT WHAT THAT MEANS FROM A LAND USE PERSPECTIVE.

YOU ARE EITHER FOR THAT AND YOU SEE SOME OF THE BENEFITS OR YOU ARE PARTICIPATING IN THOSE PUBLIC MEETINGS TO LODGE YOUR COMPLAINT ABOUT IT.

VERY RARELY DO WE HAVE KIND OF SURROUND-SOUND 360 CONVERSATIONS ABOUT THE FULL VALUE AND HOW COMMUNITY PARTICIPATES THIS THE VALUATE OF THOSE -- IN THE VALUE OF THOSE PROJECTS AND HOW WE STRUCTURE THE BENEFITS OVER TIME.

SOME OF IT IS COMPLETELY MONETARY AND SOME ARE THE LIFE OF THE PLACE THAT THOSE THINGS CREATE, ON THE FRONT END OF THE CONVERSATION WE HAVE TO BE VERY INTENTIONAL ABOUT SAYING HOW EVERY HOUSE HOLD EVERY RESIDENT EVERY INSTITUTION WILL BENEFIT AND GAIN.

>> Crossley: BACK TO YOU NIA E ABOUT THE UJIMA PROJECT, A LOW THRESHOLD WAY OF INVESTING, THERE AREFUL TEARS SO THAT ANYBODY ACTUALLY COULD BE A -- ARE MANY TEARS SO THAT ANYBODY COULD BE A PART OF IT AND YOU MAKE A DECISION ABOUT WHERE TO INVEST BY THE VOTE OF ALL THE MEMBERS WHO ARE INVESTED IN YOUR PROJECT.

GIVE US A SENSE OF HOW THIS WORKS.

>> SURE, THANK YOU.

SO JUST A VERY QUICKLY I THINK ONE OF THE INTERESTING THINGS THAT WE'VE DONE IS WE'VE ACTUALLY DECOUPLED INVESTING FROM DECISION-MAKING.

SO WHEN WE THINK ABOUT JUST THE PREVIOUS ROUND OF REMARKS AND WE LOOK AT INVESTMENT, DECISION, INVESTMENTS AND HOW INVESTMENT DECISIONS ARE MADE, WE SEE THAT THEY'RE HIGHLY CORRELATED.

SO WHAT ENDS UP HAPPENING IS THE PERSON WITH THE MOST WEALTH, THE PERSON WHO HAS INVESTED THE MOST HAS THE MOST SAY.

AND THEN WHEN WE THINK ABOUT THE HISTORY OF HOUSE WEALTH HAS BEEN ACCUMULATED IN THIS COUNTRY SO THAT WE KNOW THAT WEALTH IN THIS CURRENT HAS BEEN ACCUMULATED THROUGH THEFT AND EXTRACTION AND WE KNOW THAT THE SYSTEMIC BIASES THAT ARE BUILT INTO A LOT OF PROCESSES IF YOU NOW RIGHT NOW FOUND YOURSELF WITHOUT TOO MANY MEANS AND YOU FIND YOURSELF OUT OF THAT DECISION MAKING PROCESS SO THAT'S WHY IT IS REALLY IMPORTANT THAT WE'VE DECOUPLED THAT.

WE HAVE INVESTORS AS YOU SAID WHO CAN INVEST AS LITTLE AS $50 INTO THE FUND.

AND I DO JUST WANT TO SAY REALITY QUICKLY THE FUND IS CLOSED FOR INVESTMENT NOW.

WE AREN'T CURRENTLY TAKING ANY INVESTMENTS BUT WE'VE MADE IT VERY ACCESSIBLE.

SO THAT THOSE WHO PREVIOUSLY FOUND THEMSELVES UNABLE TO INVEST IN PRIVATE BUSINESSES, AND THAT'S MAYBE ANOTHER KIND OF DISTINCTION THAT WE CAN TALK ABOUT, NOW HAVE THAT OPPORTUNITY.

SO THEY NOW HAVE THAT OPPORTUNITY THROUGH THEIR INVESTMENT IN THE FUND AND THROUGH THEIR VOICE THROUGH VOTING TO SUPPORT DIRECTLY PROJECTS LIKE JAZZ URBANE CAFE FOR EXAMPLE.

AND THEN WHERE WE'VE DECOUPLED IT IS MEMBERSHIP LIKE MEMBERSHIP IN MANY ORGANIZATIONS ARE BY APPLICATION.

YOU SIGN UP ONLINE, YOU PAY DUES AND YOU'RE A MEMBER OF UJIMA AND WE HAVE TWO BROAD TIERS OF MEMBERSHIP.

WE HAVE A VOTING MEMBER AND THAT IS THE MEMBERS OF BOSTON PROPER AND WE HAVE RESIDENTS OUTSIDE OF BOSTON PROPER.

AND IT IS THE VOTING MEMBERS WHO VOTE.

ESSENTIALLY WHAT WE ARE SAYING IS, IT IS YOUR RESIDENCE, IT IS YOUR PRESENCE IN THE AREA, IT IS THE CONTRIBUTIONS, THE VERY CONTRIBUTIONS YOU MAY AS A RESIDENT THAT ENTITLES YOU TO POWER, OVER DECISION MAKING, ABOUT WHAT HAPPENS IN YOUR NEIGHBORHOOD.

AND THAT'S WHY WE'VE DECOUPLED IT AND SO WHILE RESIDENTS CAN INVEST THEY'RE NOT REQUIRED TO, TO VOTE.

AND THEN THE -- I WON'T GO INTO DETAIL ABOUT THE VOTING PROCESS.

BUT AS WE REVIEW EACH INVESTMENT DEAL, EACH INVESTMENT DEAL GOES BEFORE OUR VOTING MEMBERS.

OUR QUORUM IS 50% PLUS 1.OUR VOTING MEMBERS.

AND WE DO THAT BECAUSE WE WOULD LIKE TO BE ABLE TO SAY THAT AT LEAST A MAJORITY OF OUR VOTING MEMBERS HAVE SUPPORT OF THIS.

AND IT'S AN AMBITIOUS PERCENTAGE.

AND SO THAT'S HOW IT WORKS.

I THINK THE OTHER THING THAT I WANT TO MENTION IS A PART OF OUR PROCESS IS SOMETHING CALLED COMMUNITY STANDARDS.

AND SO IN 2018, WE WENT THROUGH A FOUR-MONTH PROCESS.

WE LIFTED EIGHT DIFFERENT CATEGORIES, OWNERSHIP, MANAGEMENT, ENVIRONMENT, WORKERS RIGHTS, ET CETERA, AND WE ASKED UJIMA MEMBERS AND COMMUNITY MEMBERS WHAT ARE THE MINIMUM REQUIREMENTS YOU THINK A BUSINESS SHOULD HAVE TO MEET WHATEVER THEIR SIZE, WHATEVER THEIR TENURE, WHATEVER THEIR SECTOR IN TERMS OF GOOD BUSINESS PRACTICES TO RECEIVE INVESTMENT FROM US?

JAZZ URBANE CAFE REFLECTION WENT THROUGH THAT STANDARD.

WE HAVE 36 STANDARDS AND THEY ARE INVITED BY OUR COMMUNITY STANDARDS COMMITTEE WHICH IS AN ELECTED BODY OF THE UJIMA MEMBERSHIP.

WANTED TO ADD THE ADDITIONAL ISSUE, WE NOT ONLY INVEST IN BIPOC INVESTORS BUT THE BI PORVETIONOC INVESTORS AS WELL.

>> Crossley: TERI, DETAILS OF JAZZ URBANE CAFE, I WANT TO UNDERSCORE WHAT YOU UNDERSCORE, THIS IS REALLY ABOUT OWNERSHIP.

>> ABSOLUTELY.

AND YOU KNOW, FIRST OF ALL I LOVE THE MODEL THAT NIA JUST DESCRIBED AND IT IS ABOUT OWNERSHIP AND ALSO ABOUT RESPONSIBILITY TO OUR COMMUNITY.

BUT OWNERSHIP AND BUSINESS OWNERSHIP IS REALLY KEY.

WE HAVE TO OWN OUR BUSINESSES, WE HAVE TO OAFN OUR COMMUNITIES, YOU KNOW, HOME OWNERSHIP.

THAT IS REALLY THE WAY THAT WE HAVE TO BUILD WEALTH AND BUILD COMMUNITY WEALTH.

AND THAT OWNERSHIP PROVIDES US WITH A SENSE OF CONTROL.

SO THAT WE CAN DECIDE, YOU KNOW, WHAT'S IN OUR COMMUNITY.

IT'S NOT NECESSARILY THE BUSINESS THAT MAKES, YOU KNOW, A LOT OF MONEY THAT'S NECESSARILY THE RIGHT BUSINESS FOR OUR COMMUNITY.

YOU KNOW, WE HAVE HAD LIQUOR STORES ON EVERY CORNER FOR EONS, THAT'S NOT NECESSARILY THE RIGHT BUSINESS FOR OUR COMMUNITY.

SO THE KEY IS OWNERSHIP, AND IT'S ALSO RESPONSIBILITY.

WE, IN TRYING TO CLOSE THE RACIAL WEALTH GAP, WE HAVE REALLY PRESSED OUR COMMUNITY TO FOCUS ON BUSINESS OWNERSHIP.

AND WHAT I WILL SAY IS, NOT JUST BUSINESS OWNERSHIP OF STARTUPS EVEN THOUGH THOSE ARE IMPORTANT BUT ALSO TO ACQUIRE EXISTING BUSINESSES.

A LOT OF BUSINESSES IN OUR COMMUNITY WERE STARTED IN THE '60s, IN THE '70'S, THOSE OWNERS ARE GETTING UP IN AGE AND I REALLY WANT TO ENCOURAGE OUR YOUNG PEOPLE TO START FOCUSING ON ACQUIRING SOME OF THOSE BUSINESSES.

WE JUST INTRODUCINGED A -- INTRODUCED A NEW LENDING PROGRAM SPECIFICALLY FOR THAT.

A BLACK LED FINN TECH THAT IS PROVIDING FINANCING, TO ACQUIRE BUSINESSES.

OWNERSHIP IS THE KEY LOOK AT STARTUP, LOOK AT ALSO ACQUIRING EXISTING BUSINESSES SO WE CAN CONTINUE TO OWN OUR COMMUNITY.

>> Crossley: WELL, NIA GRACE IS EXACTLY WHAT YOU DID.

NOT THAT WHO YOU BOUGHT IT FROM WAS OLD BUT YOU TETCHED UP AND LOOKED AT IT -- LOOKED AT AN EXISTING BUSINESS AND THEN EXPANDED ON THAT AND YOU'VE TALKED ABOUT, WITHOUT THE KIND OF SUPPORT THAT YOU GOT, I MEAN YOU WERE CHALLENGED AT EVERY POINT ABOUT BEING AN OWNER IN THAT SPACE.

>> ABSOLUTELY.

YOU KNOW, I THINK THAT OWNING DARRYL'S CORNER KITCHEN IS SPECIAL.

I'M FROM THE NEIGHBORHOOD.

I'M FROM ROXBURY.

I'VE LIVED, YOU KNOW, THROUGHOUT THE CITY A BIT.

BUT THIS PIECE RIGHT HERE IS SPECIAL AND I UNDERSTOOD THAT PRIOR TO OWNERSHIP I HAD AN OPPORTUNITY TO WORK THERE.

INVEST MY TIME THERE.

AND I KNEW IT WAS SOMETHING THAT I DEFINITELY WANTED.

WHEN PRESENTED THE OPPORTUNITY.

ADDITIONALLY, THOUGH, THIS IS A TOUGH MARKET TO GET INTO IN THE CITY OF BOSTON.

THE BOSTON BLACK HOSPITALITY COALITION WILL TALK ABOUT THE LESS THAN 1% OF AFRICAN AMERICAN OWNED LICENSES FOR RESTAURANT VENUES AND DARRYL'S IS ONE OF THEM.

AND WITHOUT THAT RELATIONSHIP WE MAY NOT HAVE EVEN HAD THAT ADDITIONAL VENUE IN OUR NEIGHBORHOOD OR EVEN IN OUR REALM AND CONTROL AT THIS POINT.

SO TO ME, THAT TRADITION OF TO WHICH TERI IS SPEAKING OF PURCHASING AND ACQUIRING BUSINESSES THAT ARE CRITICAL TO OUR NEIGHBORHOOD AND TO OUR CULTURE IS ONE WAY THAT WE CONTINUE OUR LEGACY AS WELL AS CONTINUE THE WEALTH BUILDING.

AND THEN TO THAT POINT, IN DOING WELL IN THOSE BUSINESSES WE'RE ABLE TO START NEW VENTURES LIKE THE UNDERGROUND CAFE AND LOUNGE OR LIKE THE JAZZ URBANE CAFE.

>> Crossley: ALL RIGHT, TURAHN, THE JAZZ URBANE CAFE, THE MODELS WE ARE TALKING ABOUT COMMUNITY WEALTH BUILDING, AS NIA GRACE HAS SAID, AS NIA EVANS HAS SAID, PEOPLE WHO DECIDE FOR THEMSELVES WHAT THEY WANT IN THEIR COMMUNITY AND WE'VE GOT FOLKS LIKE YOURSELF WHO ARE EXCITED DRAWN IN BY DR. BILL BANFIELD.

EXPLAIN WHAT THE JAZZ URBANE IS GOING TO BE AND HOW THE SUPPORT OF THE UJIMA PROJECT IS HELPING.

>> CERTAINLY.

ONE, THANK YOU FOR THE DUE ACKNOWLEDGMENT TO DR. BANFIELD HERE.

YOU KNOW THIS IS REALLY THE BRAIN CHILD OF BILL BANFIELD, FORMER DIRECTOR OF AFRICANA STUDIES OF MUSIC, WHEN HE ARRIVED IN BOSTON TO PLAY THAT ROLE EVEN AFTER HAVING BEEN A COLLEGE STUDENT HIMSELF HERE REALLY IMAGINED THE INTEGRATION OF ARTS INTO THE CITY AND PLACES LIKE LOCAL RESTAURANTS.

SO THOSE PARTNERSHIPS BEGAN WITH DARRYL'S.

WE'VE KNOWN NIA GRACE FOR A LONG TIME AND NIA GRACE IS ON THE BOARD, I LIKE TO THINK, IF PRINCE WAS A RESTAURATEUR, HE WOULD BE NIA GRACE.

SHE IS A ROCK STAR.

COALESCING AROUND THAT VISION, AROUND THE ARTS COMMUNITY IN BOSTON, THERE IS A DEEP BENCH OF PLAYERS, AND ARTISTS ACROSS MEDIA, WE WANTED TO MAKE SURE THAT THEY HAD A HOME WHERE THEY COULD BE FEATURED.

I THINK AS THE CITY STARTED TO THINK ABOUT HOW IT WOULD FURTHER ACTIVATE NUBIAN SQUARE AND REALLY BUILD ON A LOT OF MOMENTUM THAT ORGANIZATIONS LIKE BLACK MARKET AND NUBIAN GALLERY AND HEALEY HOUSE HAVE -- HALEY HOUSE HAVE BEEN BUILDING, THIS IS AN OPPORTUNITY TO CREATE AN ATTRACTION AFTER FOUR OR 5:00 IN ROXBURY, THIS IS THE OPPORTUNITY TO OPEN A DOOR, TO COMMUNITY AND TO COMMUNITY BUILDING, THAT EXTENDS TO ROXBURY AND OTHER NEIGHBORHOODS.

AND WE THINK THAT IT'S AN OPPORTUNITY TO CREATE A REGIONAL ATTRACTION THAT HAS ITS CENTER IN THE HEART OF BOSTON'S BLACK COMMUNITY IF NOT THE REGIONAL BLACK COMMUNITY WHERE IT'S CITED TO BE PARTNERED WITH UJIMA ON THIS WHOM WE WENT TO FIRST IN ABOUT 2020 OR 2019 BECAUSE WE WANTED TO MAKE SURE THAT THE STAKE THAT THE COMMUNITY HAD THIS THIS WAS NOT JUST AS CUSTOMERS BUT AS TERI SAID AS OWNERS AND THAT WE COULD DO SO IN A WAY WHERE THE BARRIERS AROUND INDIVIDUAL AND INVESTOR ACCREDITATION AND DIFFERENT THINGS DIDN'T GET IN THE WAY.

IF YOU WANTED TO DO A DOLLAR YOU COULD DO A DOLLAR, IF YOU WANTED TO DO $50,000 YOU COULD DO IT BUT THERE IS AN OPPORTUNITY FOR TO YOU SAY JAZZ URBANE IS MY HOME AND I HAVE AN OWNERSHIP STAKE IN THAT.

>> Crossley: ONE OF THE THINGS IMPORTANT TO NOTE IS YOU SAY COMMUNITY WEALTH BUILDING'S TIME FLAME OR SCHEDULE IS VERY -- MIGHT BE VERY DIFFERENT FROM WHAT PEOPLE HAVE SEEN IN OTHER SPACES WITH THE KIND OF CAPITALISM, PROCESSES THAT WE'RE VERY FAMILIAR WITH, SOMEBODY PUTS DOWN THIS MONEY NEXT WEEK YOU START ROLLING WITH THE BUILDING AND THEN THE DOORS ARE OPEN, SIX MONTHS DOWN THE ROAD.

BUT THIS IS REALLY WHEN YOU SAY BUILDING YOU MEAN BUILDING OVER TIME.

>> YES.

SO, YOU KNOW, THE SPEED OF COMMUNITY IS A DIFFERENT SPEED THAN SAY THE SPEED OF GOVERNMENT OR SPEED OF THE PRIVATE SECTOR.

IT CAN PROM IT MAYBE BUT -- APPROXIMATE IT MAYBE BUT IT IS NEEDING A CONSENSUS.

IT IS HARD TO GET TO THAT CONSENSUS HOWEVER THAT CONSENSUS IS MUCH RICHER AND I THINK HAS A LOT MORE WORTH THAN JUST THE DOLLARS.

NOW WE HAVE GOT A COMMUNITY OF FOLKS WHO HAVE SAID TO US JAZZ URBANE CAFE HAS OUR STAMP OF APPROVAL.

WE KNOW FOLKS ARE GOING TO COME THROUGH DOOR WHEN IT OPENS.

WE KNOW THAT FOLKS ARE GOING TO GIVE US THE SUPPORT WE NEED TO GET THE DOORS OPEN AS WELL.

AND WILL FEEL THAT THIS IS THEIRS, FOR THE EXPERIENCING, FOR THE HABITING, THAT CONSENSUS GOES A LONG WAY.

THAT WILL SUPPORT US FOR YEARS TO COME.

>> Crossley: SO NIA EVANS WHEN YOU SAY THE FUND IS CLOSED RIGHT NOW, ARE Y'ALL JUST ROLLING IN THE DOUGH?

WHAT IS HAPPENING?

>> TEMPORARILY.

IT IS A $5 MILLION FUND.

OUR INVESTMENT CAPITAL GOAL WAS $4.5 MILLION AND WE REACHED THAT GOAL LAST YEAR.

SO WE'VE CLOSED IT TO INVESTMENTS.

THE OTHER JUST AS AN ASIDE, JUST FUN KNOWLEDGE, OUT OF THAT $5 MILLION IS A GRANT POOL THAT WE SET ASIDE JUST IN THE CASE OF LOSSES, BAD DEBT, ET CETERA.

HOPEFULLY WE DON'T HAVE TO USE IT BUT IT'S THERE TO BE PREPARED.

SO THAT'S WHY WE'VE CLOSED IT AND NOW OUR FOCUS IS ON DEPLOYMENT WHICH WE ARE REALLY EXCITED ABOUT.

SO WE'RE LOOKING TO MAKE A MILLION TO A MILLION AND A QUARTER IN INVESTMENTS, THIS YEAR AND THERE WILL BE A NEW FUND.

SO THERE WILL BE NEW OPPORTUNITIES TO INVEST.

SO WE'RE CONCEPTUALIZING THAT FUND AND EVEN THINKING ABOUT HOW COMMUNITY MEMBERS CAN PLAY A ROLE IN THE DESIGN OF THAT FUND.

AND WHILE I HAVE THE FLOOR.

IF IT'S OKAY, AND OF COURSE, FEEL FREE TO CUT ME OFF.

I JUST WANTED TO TALK A LITTLE BIT ABOUT OUR RELATIONSHIP WITH JAZZ URBANE AND SOMETHING GREAT THAT WE DID IN 2019, THAT I THINK IS EMBLEM ATTIC OF WHAT WE ARE TALKING ABOUT HERE.

RON AND I AND RON AND AARON TENACA, FOUNDERS OF EUGENE, WHEN RON CAME AND TALKED TO US ABOUT JAZZ URBANE WE WERE IMMEDIATELY PRETTY EXCITED.

SAID YES, LET'S TALK.

AND THERE WERE A COUPLE OF THINGS WITH THAT.

SO ONE IS, THAT WAS OUTSIDE OF OUR PROCESS MUCH SO OUR PROCESS IS BUSINESSES HAVE TO BE NAMED BY COMMUNITY MEMBERS TO BE CONSIDERED FOR INVESTMENT.

WE DO NEIGHBORHOOD ASSEMBLIES AND CITYWIDE ASSEMBLIES WHERE WE ASK COMMUNITIES MEMBERS, NAME BUSINESS YOU LOVE AND ALSO WE ASK THEM NAME BUSINESSES YOU THINK WE NEED.

SO WE WERE SO EXCITED WE LATER REALIZED OH NO THIS IS OUT OF PROCESS.

AND SO I WOULD SAY AN IMPORTANT PART OF COMMUNITY WEALTH BUILDING AND I SEIZE TERI NODDING AND I'M SURE WE'RE ALL FAMILIAR WITH HAVING GADGED WITH DIFFERENT TYPES OF PROCESSES IN OUR COMMUNITIES WHERE WE'VE FELT LEFT OUT OR NOT APPROPRIATELY INCLUDED OR THERE HASN'T BEEN ENOUGH TRANSPARENCY OR HASN'T QUITE FELT ABOVE BOARD, WE SAID WE ACTUALLY NEED TO BE TRANSPARENT HERE, WE CANNOT SAY THAT WE ARE COMMUNITY-LED AND THEN HERE WE ARE ENGAGING IN A CONVERSATION THAT DIDN'T START WITH COMMUNITY MEMBERS.

SO WE COMMUNICATED WITH OUR MEMBERS AND WE SAY HERE'S WHAT HAPPENS.

WE WERE SO EXCITED WE STARTED THIS CONVERSATION WITHOUT TALKING WITH YOU FIRST.

SO WE HELD A VOTE THAT ASKS, CAN WE CONTINUE THIS CONVERSATION WITH JAZZ URBANE AND EVERY SINGLE PERSON WHO VOTED SAID YES.

THE OTHER THING WE DID THAT I THOUGHT WAS JUST GREAT AND I THINK REALLY SPEAKS TO THE POWER OF BUILDING COMMUNITY CONSENSUS WAS WE ACTUALLY COLLABORATED WITH JAZZ URBANE ON A NIGHT IN THE BOLLING BUILDING TO GIVE PEOPLE AN IDEA WHAT IT WOULD BE LIKE TO EXPERIENCE JAZZ URBANE.

AND THERE WASN'T JUST KIND OF THE TASTING MENU AND THE MUSIC AND THE ART.

SO WE DID THAT.

WE DISPLAYED WHAT JAZZ URBANE WOULD ACTUALLY PROVIDE BUT WE ACTUALLY OPENED UP CONVERSATIONS BECAUSE OF OUR COMMUNITY STANDARDS.

WHAT WE SAID TO JAZZ URBANE WAS IF YOU ARE IN THE RESTAURANT INDUSTRY ONE OF OUR STANDARDS IS YOU CANNOT PAY THE SUBMINIMUM WAGE.

YOU HAVE TO PAY AT LEAST MINIMUM WAGE.

FROM THE HIGHEST PAID TOE LOWEST PAID WORKER.

WHAT JAZZ URBANE SAID, THE RESTAURANT INDUSTRY IS A LOW MARGIN INDUSTRY, UNDERSTAND THIS CREATES SOME TRADEOFFS WE HAVE TO THINK ABOUT.

WE WERE ABLE TO HAVE THAT CONVERSATION WITH COMMUNITY MEMBERS WHERE WE WERE ABLE TO TALK WITH COMMUNITY MEMBERS AND SAY TO BE ABLE TO PROVIDE A CERTAIN WAGE SCALE THIS IS WHAT PRICES WOULD LOOK LIKE.

SO I THINK THAT IS A GREAT CONVERSATION FOR COMMUNITY MEMBERS TO BE ABLE TO ENGAGE IN.

NOT ONLY INVESTING BUT ALSO UNDERSTANDING A LITTLE BIT MORE BEHIND THE SCENES WHAT IT TAKES TO OPERATE A BUSINESS IN CERTAIN INDUSTRIES.

AND I THINK TRANSFORMERRING THE RELATIONSHIP INTO A WHOLE PARTNERSHIP.

>> Crossley: COMMUNITY BUILDING IT IS A HOLISTIC PROCESS.

TERI I'M TURNING TO YOU IN THE LAST MOMENTS OF THE SHOW TO TALK ABOUT OFTEN OUR COMMUNITIES ARE THOUGHT OF AS HAVING DEFICITS AS OPPOSED TO FOCUSING ON THE ASSETS TO BE IN POSITION TO BUILD COMMUNITY WEALTH WOULD YOU SPEAK TO THAT?

>> YES ABSOLUTELY.

THERE IS A TENDENCY TO TALK ABOUT OUR COMMUNITIES AS FROM OUR CHALLENGES, AS OPPOSED THERE OUR ASSETS.

AND THIS IS AN EXAMPLE YOU KNOW I CALLED DARRYL OLD.

I FEEL OLD TOO.

THESE ARE THE YOUNG PEOPLE THAT WE HAVE, THAT HAVE A WHOLE DIFFERENT MODEL AND A WHOLE DIFFERENT WAY OF DOING THINGS AND IT REALLY IS AN EXAMPLE OF OUR ASSETS.

WE KNOW YOU KNOW WE SPEND OVER A TRILLION DOLLARS A YEAR THE BLACK COMOOUCHT.

WE HAVE PEOPLE THAT ARE ENGAGED -- BLACK COMMUNITY.

WE HAVE PEOPLE ENGAGED IN OUR COMMUNITY.

EVERYBODY WANTS TO TALK ABOUT UNEMPLOYMENT.

WHAT ABOUT EMPLOYMENT, THE PEOPLE WHO GO TO WORK EVERY DAY IN OUR COMMUNITY.

NUBIAN SQUARE, AT NIGHT NUBIAN SQUARE IS QUIET.

IT'S AN OPPORTUNITY TO REALLY BUILD SOME TYPE OF NIGHT LIFE FOR OUR COMMUNITY THAT IS WALKING DISTANCE FROM THE RESIDENTS.

AND SO WE HAVE A LOT OF ASSETS THAT WE CAN TAKE ADVANTAGE OF.

>> Crossley: OKAY.

>> WE HAVE STEM RIGHT DOWN THE CORNER.

WE HAVE MADISON PARK.

WE HAVE BENJAMIN FRANKLIN INSTITUTE COMING INTA OUR COMMUNITY.

WE HAVE TREMENDOUS ASSETS THAT WE NEED TO TAKE ADVANTAGE OF AND NOT DEFINE OURSELVES BY OUR CHALLENGES.

>> Crossley: THAT IS A GOOD PLACE TO LEAVE THE CONVERSATION.

I THANK ALL OF YOU FOR JOINING ME.

THAT'S THE END OF OUR BROADCAST, END OF THE SHOW AND NOW STAY WITH US AS WE CONTINUE ON OUR DIGITAL PLATFORMS, FACEBOOK AND YOUTUBE.

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