Tulsa, Oklahoma's first Black mayor, Monroe Nichols, unveiled a $105 million reparations package on Sunday, The New York Times reported.

The package, Road to Repair, was formed to address economic disparities among the city's Black residents stemming from the 1921 Tulsa Race Massacre.

"On this first Tulsa Race Massacre Day of Observance, I am pleased to announce that my office has been collaborating with our legal department on the establishment of the Greenwood Trust," Nichols said in a speech Sunday. "This private, charitable Trust will raise and facilitate the investment of $105 million in private funds along our Road to Repair for restoration and righteousness."

The trust will be divided into three general areas: a $24 million fund for housing assistance; a $60 million fund for culture and historical preservation; and a "$21 million endowment for educational scholarships, small business grants, no-interest business loans, and continuing the work of bringing closure to families through our commitment to finding victims buried in mass graves."

Nichols told the Times that had it had not been for the mob attack in the Tulsa neighborhood of Greenwood that destroyed some 1,250 homes, "You would have had the center of oil wealth here and the center of Black wealth here at the same time."

"That would have made us an economic juggernaut and would have probably made the city at least double in size."

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