The residents won’t get the cash directly. The city says that would likely require them to pay state and federal taxes on it. Instead, the money will go to the financial institution providing a new mortgage or holding an existing one or to the closing agent handling a down payment.

...

I think it would be a different dynamic if reparations became an element of the city budget—of the core city budget—and the city government was saying, ‘We’re going to allocate a hundred million dollars over this period of time to fund the reparations budget.’ ” The city’s annual budget, for reference, is about $300 million. “This is just not costing anyone anything. So they’re OK.” Percy Berger, 72, a former banker and private equity investor and the owner of a home in Evanston’s Lake Shore Historical District, calls the $10 million inconsequential, arbitrary.

He wants to liquidate the city.