Number
13387
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving a professional services contract to the Wisconsin Women’s Business Initiative Corporation (WWBIC) 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 $420,000
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee (Housing Authority) has since 2002 been providing financial literacy training for residents to educate them on how to manage and save money, and to provide an opportunity for them to open an Individual Development Account (IDA) and in homeownership; and
WHEREAS, the Housing Authority desires to continue such financial literacy training for its residents; and
WHEREAS, the Wisconsin Women’s Business Initiative Corporation (WWBIC), a nonprofit organization, has performed these services for the Housing Authority for the past thirteen years and has extensive experience with providing such services for low-income individuals and that the services provided by WWBIC have proven to be well run and of benefit to public housing residents; and
WHEREAS, WWBIC has an Assets for Independence grant from the U.S. Department of Health & Human Services that will provide matching funds for the IDA accounts and is one of only two organizations in the area to offer Individual Development Accounts; and
WHEREAS, since 2004, 103 continued their post-secondary education, to date, 186 residents have used their savings for purchasing a home, 60 for furthering their education, and 88 for starting a business; 396 paid down debt and 122 either repaired or purchased a vehicle
WHEREAS, based on these reasons, staff of the Housing Authority recommends awarding WWBIC a new contract to perform said services as a single source procurement; now, therefore, be it
RESOLVED, by the Commissioners of the Housing Authority of the City of Mi...
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