City of Milwaukee - File #: R13235

• File #: R13235
• Version: 0
• Type: Housing Authority Resolution
• Status: Passed
• File created: 6/4/2021
• In control: HOUSING AUTHORITY
• On agenda: 6/10/2021
• Final action: 6/10/2021
• Title: Resolution to approve a contract with the Wisconsin Women’s Business Initiative Corporation (WWBIC) for financial education training and individual development account management in the total amount not to exceed $415,000
• Sponsors: THE CHAIR

Date	Ver.	Action By	Action	Result	Tally
6/10/2021	0	HOUSING AUTHORITY	ADOPTED; Minutes note: Ken Barbeau, HACM’s Director of Community Programs and Services, explained the amount of this contract is the same as last year’s. Mr. Barbeau stated that the contract includes $115,000 for training and Wisconsin Women’s Business Initiative Corporation’s (WWBIC) administration of the Individual Development Account (IDA) program, and encouraging savings and following up with case management. The additional $300,000 is set aside for IDA match dollars for the resident’s IDA saving accounts. Thalia Mendez, Regional Project Director and Shelina Harvey, Senior Financial Coach, both of the Wisconsin Women’s Business Initiative Corporation, provided a summary of the Make Your Money Talk program for 2020, the goals for the 2021 program, and answered Commissioners’ questions about how the program works. They also extended an invitation to the Make Your Money Talk graduation on June 29th. Vice Chair Diaz suggested that staff report the tax contributions of properties bought through WWBIC program. Chair Wagner added that the information could also be included on the HACM’s website.	Pass	5:0

Number
13235

Version
Original

Reference
Resolution No. 13135, 03/04/2020

Sponsor
The Chair

Title
Resolution to approve a contract with the Wisconsin Women’s Business Initiative Corporation (WWBIC) for financial education training and individual development account management in the total amount not to exceed $415,000

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 16 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 2020 with a schedule of fees of $115,000 to provide financial education training and IDA management, and an additional amount of up to $300,000 of potential HACM contribution to the match 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 2020; therefore, be it

RESOLVED, by the Commissioners of the Authority that they hereby authorize and approve accepting the proposal of and entering into a contract with Wisconsin Women’s Business Initiative Corporation in the total amount of $415,000.00 not-to-exceed for an initial period of three years (one year of education with two years for residents to save in their IDA) for services on an as-needed basis; and, be it

FURTHER RESOLVED, that fund...