One reason for the reduction in homeownership by African Americans is the foreclosure rate which is high in
the 74106, 74126, 74110, 74115 and 74127 zip codes. Over a six month period from August 2007 to January
2008, 199 homes were placed on the Tulsa County Sheriff’s Foreclosure auction list. The value of these homes totaled more than $14.2 million dollars in net worth for the families. Vacant and abandoned homes owned by absentee landlords or homeowners who have given up on saving their homes in the identified areas, has lead
to lower property values in African-American neighborhoods and consequently less home equity and wealth.

MTUL’s Empowerment Center will address the economic disparity within the North Tulsa community through:

Economic Empowerment:

• Entrepreneurship - (I.e., training on thinking like a business owner, structuring the business for growth), Capital Seeking/creation - funded by 2009
• Employment - (I.e., job searches, business readiness, soft skills, professional and dining etiquette, resume creation, networking/relationship – job search current; training funded by 2009)
• Homeownership - (I.e., education & credit preparedness, savings strategies, down payment creation, foreclosure prevention (sub-prime lending credit crisis), partner with CAP for 1st time Homebuyer education and assistance and continually seeking support - needed by March 2008)
• Financial Literacy - (I.e., credit counseling, health care savings accounts, retirement planning (IRA education), teaching retirement as a function of income, not age; investing, wealth vs. income, wealth accumulation, estate planning and generational wealth building and passing - credit smart classes current programming and will incorporate professionals from the remaining areas as guest speakers)
  

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