Tulsa Mayor Monroe Nichols IV speaks during the Legacy event for the Tulsa Race Massacre on Sunday, June 1, 2025, at Greenwood Cultural Center in Tulsa, Oklahoma. (AP Photo/Joey Johnson)
The private charitable trust would be created with a goal to secure $105 million in assets, with most of the funding either secured or committed by June 1, 2026.
Nichols says the City Council would have to approve the transfer of any city assets to the trust.
The plan calls for the bulk of the funding, $60 million, to go toward improving buildings and revitalizing the city's north side.
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Rep. Summer Lee has unveiled a bill aimed at giving reparations payments to descendants of slavery (Getty Images)
Lee's resolution cites U.S. slavery, Jim Crow laws, and other racially discriminatory laws and policies to justify spending trillions of dollars supporting the descendants of Black Americans in the U.S.
"That’s why we recognize that the fight to restore Black folks has to be so much more substantive," she added.
The Associated Press contributed to this report.
Anders Hagstrom is a reporter with Fox News Digital covering national politics and major breaking news events. Send tips to Anders.Hagstrom@Fox.com, or on Twitter: @Hagstrom_Anders.
https://www.foxnews.com/politics/tulsa-mayor-proposes-100m-reparations-plan-descendants-1921-tulsa-race-massacre