The Overcoming Barriers to Increase Generational Wealth session at IEDC’s Annual Conference explored innovative approaches to addressing long-standing issues in Black intergenerational wealth transfer and homeownership. 

The session highlighted how addressing heirs’ properties and appraisal biases can transform Black intergenerational wealth. LISC Jacksonville's Family Wealth Creation initiative has demonstrated how targeted interventions can yield significant results, assisting more than 130 families to secure clear home titles and preserving $6.4 million in housing value. These figures underscore the substantial economic impact of resolving property title issues—an often overlooked barrier to wealth creation and retention in Black communities. 

LISC Jacksonville's partnership with Fourth Economy showcases the power of combining data analysis with strategic outreach. Collaboratively they worked to:

1. Identify at-risk properties: LISC Jacksonville and Fourth Economy used a series of economic and household condition indicators to pinpoint properties that may be subject to title issues or appraisal biases as well as those that may be at increased risk in the future. 

1. Conduct strategic outreach: A risk profile that modeled the most vulnerable homeowners and properties informed a targeted outreach strategy to reach and support families with at-risk properties. 

1. Empower families and communities: Families and neighborhood organizations received resources and support to help families navigate the complex legal process of securing clear titles. 

This collaborative approach allows for more efficient allocation of resources and a more significant impact on community wealth preservation. 

As communities across the U.S. grapple with the housing crisis and wealth disparities, these strategies offer a roadmap for action. By focusing on clearing property titles and addressing appraisal biases, economic developers can play a crucial role in preserving and growing Black intergenerational wealth, stabilizing neighborhoods, and fostering more equitable economic growth. 

The success of LISC Jacksonville's initiative serves as a call to action for EDOs to explore similar programs in their communities, potentially unlocking millions of dollars in housing value and creating pathways to long-term economic stability for historically marginalized families.