The limit for reparations is reportedly $5 million per person.
Board members are optimistic about the plan to accept the draft, but that doesn’t mean they will approve it. They can also reject or change it when the reparations committee submits it. The final proposal is due in June, and the board is scheduled to meet again regarding the draft in September.
To receive reparations, a resident must have identified as African American for the previous ten years. They also have to meet at least two other criteria. National Review states, “Residents must also meet at least two of eight other requirements. Among those requirements is that the resident is ‘personally, or the direct descendant of someone, incarcerated by the failed War on Drugs or is a ‘Descendant of someone enslaved through U.S. chattel slavery before 1865.’”
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However, this is the first time anyone has said how this $5 million lump sum will be paid. Suppose half of the city’s 45,000 black residents qualify for this payment. That would be a total of $112.5 billion. The city’s budget for this fiscal year is only $14 billion.
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The committee has yet to release information regarding how much this would cost or how it would be paid for, but other people have done studies on it. According to NBC, “An estimate from Stanford University’s Hoover Institution, which leans conservative, has said it would cost each non-Black family in the city at least $600,000.”
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Critics of the reparations make several good points. They say it doesn’t make sense to pay individuals who were never slaves in a city that never owned slaves. It also doesn’t make sense that other families have to foot the bill, especially those whose ancestors never owned slaves. On top of that, the city is in the midst of a downturn and can’t afford it.