Black Wealth Agenda from Black Caucus aims to boost homeownership, minority contracts

MARYLAND – A new measure from Maryland’s congressional black caucus is looking to boost minority-owned businesses and families across the state.

As part of the Building Black Wealth Agenda, the caucus is looking to expand funding through the state’s Housing and Community Development office to help with first-time homeownership and upgrading existing homes with state grants.

They are also looking to help black businesses by creating a mirror of a federal program that helps minority-owned businesses get access to state bids for construction projects.

“When we have a contracting process with billions of dollars of state contracts, ensuring those dollars are going to minority businesses that are bidding and making that more accessible with greater opportunity to have wealth building from that,” said Delegate Jheanelle Wilkins.

Wilkins tells 47ABC that she is also looking to boost awareness and utilization of existing programs including the state’s first-time homeowner savings program to help families build wealth tied to the equity in their home.