City of Milwaukee - File #: R13047

• File #: R13047
• Version: 0
• Type: Housing Authority Resolution
• Status: Passed
• File created: 4/11/2019
• In control: HOUSING AUTHORITY
• Final action: 4/17/2019
• Title: Resolution approving an award of contract to the Wisconsin Women’s Business Initiative Corporation (WWBIC) (Milwaukee, WI) for financial education training and individual account management in an amount not to exceed $400,050.00 for a period of three years
• Sponsors: THE CHAIR

Date	Ver.	Action By	Action	Result	Tally
4/17/2019	0		ADOPTED		5:0
4/17/2019	0	HOUSING AUTHORITY	ADOPTED; Minutes note: Commissioner Diaz asked Ken Barbeau, Director of Community Programs, to address Item 6 regarding the contract renewal with the Wisconsin Women’s Business Initiative Corporation (WWBIC). Mr. Barbeau explained that the contract in the amount of $400,050.00 is for financial education training for residents in public housing and in the Rent Assistance program. In addition, these funds are also for the management of the Individual Development Accounts (IDA) savings program. Mr. Barbeau clarified that $300,000.00 is monies that are matched to the resident’s savings accounts and the balance of 100,050.00, WWBIC receives to do training as well as the administration of the IDA accounts for a two year period. Amber Miller, Senior Project Director and Shelina Harvey, Financial Coach, Wisconsin Women’s Business Initiative Corporation (WWBIC). Ms. Miller gave a brief summary of WWBIC’s accomplishments for 2018 as follows; 150 residents have purchased a homes, 69 residents have created or expanded their small business, 83 residents have gone on to post-secondary education, 42 clients have paid down or paid off debt and 25 residents have chosen other asset use, such as the purchase of a vehicle. Ms. Miller also informed the Board that in 2018, WWBIC’s Make Your Money Talk program had 256 graduates which is highest number of graduates for several years. Ms. Miller thanked the HACM for their support throughout the years and informed the Board that the next Make Your Money Talk graduation is on May 23, 2019.	Pass	5:0

Number
13047

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 financial education training and individual account management in an amount not to exceed $400,050.00 for a period of three years

Analysis

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

WHEREAS, Wisconsin Women’s Business Initiative Corporation (WWBIC) had previously been awarded several Assets for Independence grants from the U.S. Department of Health & Human Services Office of Community Services and has more than 14 years of experience in 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 2019 with a schedule of fees of $100,050 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 2018; 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 $400,050.00 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 funds for these serv...