Cherishing the Past, Present and Future of African-American History

To know the history of America is to understand our society's journey towards freedom, democracy and progress. But we have had a mixed relationship, a contradictory relationship, with our own history, often shying away from ugly truths of this ongoing journey to make that democracy meaningful to everyone. There is no American history without black history.

For almost one hundred years the Schomburg Center for Research in Black Culture -- a part of the New York Public Library system -- in Harlem has been a beacon of learning and engagement for black history, and a world-renowned research facility that houses the history and culture of people of African descent. We enable the next American generation to fulfill their capacity to be responsible democratic citizens, by preserving and communicating that history.

However, we could not keep the legacy alive and fulfill our responsibility without urgent renovations and upgrades. Visitor growth of more than 300 percent over the past several years attests to the relevance of our mission and interest in the services we provide to the community. But this growth, as well as our aging building, meant that we needed millions of dollars in critical renovations and updated technology. Our entire HVAC system had reached the end of its useful life, we had roof leaks in several areas, and other problems to remedy in order to preserve all the documents we house and have proper facilities for the increased visitors.

Citi was uniquely able to structure suitable financing needed by the Schomburg with a combination of tax credits, equity and debt. Citi not only had the financing expertise for the public sector that meant we got our financing at the best cost, but our Citi banker Gina Nisbeth had a personal interest and history with the Center dating back to visits to here when she was a girl.

Because of the financing Citi was able to arrange, we are soon breaking ground on our building renovations. These updates will enable us to progress on other long-range goals such as to focus on increasing the Schomburg's reach nationally by making our expertise and knowledge available to facilitate necessary conversations about the African Diaspora in America and around the world. We will also build a youth-focused gallery with a permanent exhibition, along with special exhibitions, to make the research center engaging and accessible for all ages.

As we celebrate the Schomburg's 90th year and recent National Medal for Museum and Library Service awarded at the White House, we are so pleased to be able to strengthen our foundation as an indispensable resource for the next generation of storytellers, history makers, and progress makers.