Building Together: City of Memphis Weekly Newsletter

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This week I had the honor to sit down with John Hope Bryant, founder, chairman, and CEO of Operation Hope, for the Memphis stop of the American Aspiration Tour. 

Bryant is a renowned entrepreneur, author, and philanthropist known for his work promoting financial literacy, economic empowerment, and the notion that "silver rights" (the right to financial literacy, access to capital, and economic opportunity) are just as important as civil rights. And if you follow me, you know I quote him frequently because he is also a powerful motivator. And he did not disappoint with his words for our community. 

He reminded those of us in attendance of something I think about every day. Memphis can’t afford to lose the wealth game. We simply must win. When people think of Memphis, I want them to think of our innovation, creativity, and drive. We cannot allow our story to be one of crime, disinvestment, or poverty. 

I wake up every day thinking about how we can create more wealth in our city. I go to sleep thinking about the programs that might inspire our kids to do more and be more and to create a future-ready next generation. Every decision I make runs through the filter of “Will it help our community?” And if we can get more families on the path to home ownership, financial stability, and wealth, it will help our community. The Operation Hope message this week helped to amplify my resolve to do more.  

I can’t stop thinking about what could happen if we were able to raise the collective credit score of our community. Currently, the average credit score in Memphis is around 630, while the national average is 717. On average, we also have more past-due debt and more inquiries on our credit than the national average. All of these factors contribute to less-than-favorable credit terms when it comes to borrowing money and are detrimental to creating wealth. But what if we were able to educate more of our community on smart financial decision-making? What if we were able to help increase our credit scores and give more Memphians access to home ownership?

I was in Hyde Park earlier this week with our service team. As I looked around the community, I’ll admit that I was frustrated by some of the blight and disinvestment. But what stood out to me most was the opportunity for someone in our community to go into that neighborhood, buy properties, build homes, and build wealth. I believe that through community involvement and investment, we can drive positive change in Memphis. 

John Hope Bryant's advice on creating wealth is inspirational.  Whether it's raising your credit score, securing life insurance, or strategically investing in real estate, these steps can transform our financial trajectories and lead us toward a brighter future. Regardless of our current financial standing, we all play a crucial role in fostering greater economic vitality within our community. Bryant reminds us that the goal isn’t about making money; it is about creating wealth. 

As for me, I think about the headlines that we want to see for our city in the future, and I firmly believe that we will see headlines claiming Memphis as the fastest-growing city and the city with the most equitable growth. When I think about economic inclusion, I imagine programs that teach people how to own their own future. (See our Library programming below) Because we are working to equip our community with the skills they need to own their own blocks, to buy those housing units in Hyde Park  - or other neighborhoods in our city - and create life-changing wealth.   

Hope is the driving force behind the change we seek, and I am more convinced than ever that financial literacy is at the heart of this transformation. Let's continue this journey together and inspire each other to create a stronger, safer, more prosperous future for Memphis.  

I hope you will watch the full conversation and listen to the podcast when it is released next week. 

Memphis Public Libraries: Operation Hope Financial Wellness Workshops! 

Don't miss these upcoming financial wellness workshops presented by Operation Hope. (ALL WORKSHOPS START AT 10AM)

• August 7: Building Strong Credit 
• August 14: Setting Financial Goals 
• August 21: Budgeting and Saving 

Participants must pre-register to receive the link to join the workshop. Attendees for each workshop will be entered into a drawing to receive a gift card. 

Reminder: Solid Waste Fee Increase. 

Beginning with the August-dated MLGW invoices, city of Memphis single-family residential customers will notice a $12 monthly increase to your solid waste fee. This fee covers all garbage, recycling, and bulk waste pickup services provided by the city of Memphis. 

Some small commercial customers and apartment dwellers will also experience a 23% increase from your previous rate. The senior rate will also go up by 23% from $7.50 to $9.23. 

The new fee will be listed on page 2 of your MLGW bill. 
Questions? Please reach out to 311 or 901-636-6500.

Pandemic-Level Response Update: Fausto Pichardo

As part of our pandemic-level response to crime, we have recently hired Fausto Pichardo, a retired head of the NYPD, as our new public safety consultant.

His work also includes consulting for the New Orleans Police Department where he is credited with making substantial improvements. 

His position is funded by private-sector partners, led by First Horizon Bank, which highlights the impact and importance of public-private partnerships in achieving the results we need for our community.

Pichardo has been retained to help with organizational efficiencies within MPD and the city’s broader public safety efforts. In this role, he will support Chief Davis and me on all crime- and public safety-related work as we strive to create a world-class police force in Memphis.

I am hopeful that by using data-driven strategies, Pichardo will help us reach and surpass our goal of reducing crime by at least 10 percent this year and every subsequent year, making Memphis a safer, stronger, and more attractive community.

Weekly Crime Trend

The report below provides our weekly update on Part 1 Crimes. It updates daily and shows a continuous rolling 7-day total compared to the prior 7-day total. The date range for each 7-day period is shown below the table. The charts on the right show the calendar week trend, comparing 2023 to 2024. We maintain two crime dashboards, the Weekly Crime Trend report can be found here, and the Crime Analytics dashboard can be accessed here.

Our Strike Team worked in the following zip codes this week: 38104, 38106, 38108, 38111, 38114, and 38118.

Social and Community Shout-outs:

Back to School Giveaway. Join us for the 6th Annual Back-to-School Backpack Giveaway and Community Festival at Ed Rice Community Center. See more here.

Community Center Ribbon Cutting. Friday, Aug 9. Join Mayor Young and Mayor Lee Harris for the Mini Hub at Greenlaw Community Center. See full details here.

Teen Fest Back to School Bash. Join us for Memphis Park’s Back to School bash this Saturday, August 3rd, from 2pm-6pm. See full details here.

Weekly round-up

in partnership and progress,

Paul A. Young