Earnings Call, Fireside Chat, Panel, Roundtable, Statement
The Power of Advocacy: US Mayors
- Dallas Mayor Eric Johnson detailed the city's progression from early pandemic responses to current crises:
- Initial measures began in late February/early March, starting with the cancellation of the Southwest's largest St. Patrick's Day parade.
- Decisions culminated in closing bars and restaurants to takeout/delivery only, followed by a city-wide lockdown.
- Dallas declared its first local disaster for the virus, followed by a second disaster for George Floyd protests.
- Recent trends show a resurgence in COVID-19 cases after a period of flattening.
- Economic impact includes widespread job losses, furloughs, and pay cuts.
- Protest dynamics were mostly peaceful, with one specific incident on June 1st involving rubber bullets and tear gas on a signature bridge under investigation.
- A dedicated "disparity czar" (a medical doctor with epidemiology and public health background) was appointed to monitor health outcome gaps.
- Testing disparities were identified in vulnerable populations, prompting increased mobile testing resources.
- A $5 million small business continuity fund was established using CARES Act and CDBG federal dollars.
- The private sector (Chamber of Commerce members) matched the government fund with $5 million in private capital, creating a total $10 million leveraged pool.
- Private sector initiatives include a mentoring program where large companies provide forgivable loans and adopt smaller businesses.
- Goldman Sachs partnered with the LIFT Fund to provide capital to vulnerable Dallas businesses.
- Dayton Mayor Andrew G. Whitaker (referred to as Mayor Whaley) highlighted systemic equity and economic recovery strategies:
- Current disruptions represent a national calling for change, with similar events occurring in over 150 cities since 2014.
- The pace of change regarding systemic racism and technology creates discomfort but offers leadership opportunities.
- Local efforts focus on raising capital for minority and women-owned small businesses.
- Long-term strategy includes a "10,000 Small Businesses" initiative and a downtown collaboration hub.
- Mayors are actively advocating with Ohio Governor DeWine and Senator Brown for federal funding to prevent disproportionate harm to communities of color.
- New Orleans Mayor LaToya Cantrell addressed the severe impact of the pandemic and civil unrest on vulnerable demographics:
- New Orleans was a national hotspot with over 7,200 confirmed cases and 513 resident deaths.
- Disproportionate fatalities occurred among the African American community, which constitutes the bedrock of the city's culture.
- Economic distress is acute, with 79,000 residents on unemployment insurance and widespread struggles regarding rent and evictions.
- A $50 million partnership with Goldman Sachs and Hope was executed to support local recovery.
- The city is moving into Phase 2 of reopening while leveraging local, state, federal, and national partnerships.
- Mayor Cantrell advocates for a "revolution of our time" requiring residents and leaders to step outside their social bubbles to listen and learn.
- Specific recovery plans for the French Quarter include no-car zones, pedestrian malls, and social distancing measures.
- New Orleans is part of a global leadership task force focused on pandemic recovery and pivoting to greater resilience.
- Collective Themes and Forward-Looking Statements:
- All three mayors agree that small businesses are the core of economic recovery and require urgent capital infusion.
- There is a consensus that vulnerable populations (communities of color, low-income residents) are disproportionately affected by both health and economic crises.
- Mayors emphasize the necessity of federal support, noting that current revenue losses are not being adequately addressed.
- Leaders view the current climate as an opportunity to build more resilient, equitable, and just cities than existed pre-crisis.
- Collaboration between public, private, and nonprofit sectors is identified as the primary mechanism for accelerating recovery.
- The mayors stress the need for rapid, flexible decision-making to adapt to the evolving "when" of future tragedies.