City of Milwaukee - File #: R13478

• File #: R13478
• Version: 0
• Type: Housing Authority Resolution
• Status: Passed
• File created: 4/4/2024
• In control: HOUSING AUTHORITY
• On agenda: 4/10/2024
• Final action: 4/10/2024
• Title: Resolution approving an award of contract to the Wisconsin Women’s Business Initiative Corporation (WWBIC) (Milwaukee, WI) for professional services to provide financial literacy training and Individual Development Account (IDA) case management services to Public Housing residents and Rent Assistance recipients in an amount not to exceed $442,000.00 WWBIC’s proposed schedule of fees consists of $142,000 to provide financial education training and IDA management. The additional amount of up to $300,000 of potential HACM contribution is for the matching fund for the IDA savings accounts of participating residents.
• Sponsors: THE CHAIR

Date	Ver.	Action By	Action	Result	Tally
4/10/2024	0	HOUSING AUTHORITY	ADOPTED; Minutes note: Ken Barbeau, HACM’s Chief Operating Officer – Program Services, stated that HACM has partnered with the Wisconsin Women’s Business Initiative Corporation (WWBIC) for a number of years. WWBIC has submitted a proposal for 2024 to continue the Make Your Money Talk financial education program for Public Housing and RAP participants, the Individual Development Accounts, and the related counseling services. Mr. Barbeau summarized the documents provided with the agenda and answered Commissioners’ questions regarding the duration of the program and the limits to matched savings accounts.	Pass	3:0

Number
13478

Version
Original

Reference

Sponsor
The Chair

Title
Resolution approving an award of contract to the Wisconsin Women’s Business Initiative Corporation (WWBIC) (Milwaukee, WI) for professional services to provide financial literacy training and Individual Development Account (IDA) case management services to Public Housing residents and Rent Assistance recipients in an amount not to exceed $442,000.00

WWBIC’s proposed schedule of fees consists of $142,000 to provide financial education training and IDA management. The additional amount of up to $300,000 of potential HACM contribution is for the matching fund for the IDA savings accounts of participating residents.

Analysis

Body
WHEREAS, the Housing Authority of the City of Milwaukee (Authority) has provided financial education services and Individual Development Account opportunities to HACM public housing residents and rent assistance participants since 2004; and

WHEREAS, Wisconsin Women’s Business Initiative Corporation (WWBIC) has more than 18 years of experience in financial literacy and use of Individual Development Accounts through the old Assets for Independence grants from the U.S. Department of Health & Human Services and similar programs; and

WHEREAS, there are no similar organizations in the local area that provide both the financial education and the account management services for a matching Individual Development Account (IDA) program; and

WHEREAS, WWBIC submitted a proposal for financial education for 2024 with a schedule of fees of $142,000 to provide financial education training and IDA management, and an additional amount of up to $300,000 of potential HACM contribution to the matching amount for the IDA savings accounts for residents; and

WHEREAS, WWBIC’s schedule of proposed fees was found to be reasonable and comparable to fees paid on the current contract for these services for 2023; therefore, be it

RESOLVED, by the Commissioners of the Authority that they...