Special Needs Network Launches Campaign to Save FAME Renaissance Building - A Pillar of Economic Justice for Black-Owned Businesses [Yahoo! Finance]
AT&T Inc. (T)
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Source: Yahoo! Finance
Los Angeles, CA, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Special Needs Network, Inc. (SNN) has announced an urgent campaign to purchase LA's historic FAME Renaissance Building. The acquisition would safeguard the building's role as an economic incubator and protect the surrounding neighborhood from gentrification and protect us from the undisclosed plans of the developer whose bid is part of bankruptcy proceedings. In the early 1990s, First AME Assistance Corporation and the First African Methodist Episcopal Church, under the leadership of Pastor Cecil L. Murray, purchased the building from actor Brock Peters and his wife for $300,000. The property had been donated to Peters by AT&T following the 1992 civil unrest, which devastated Black and Brown communities in South Los Angeles. Murray envisioned the FAME Renaissance Building as an economic engine, fostering growth for small businesses and nonprofits in the area. The building, hailed as the first Black-led economic incubator of its k
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