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File #: 220412    Version:
Type: Resolution Status: Passed
File created: 7/12/2022 In control: COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE
On agenda: Final action: 7/28/2022
Effective date:    
Title: Substitute resolution authorizing acceptance of additional funding of the Financial Navigators grant from the Cities for Financial Empowerment Fund, Inc.
Sponsors: THE CHAIR
Indexes: COMMUNITY DEVELOPMENT GRANTS ADMINISTRATION, GRANTS
Attachments: 1. Equity Impact Statement, 2. Grant Budget Form
Number
220412
Version
Substitute 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution authorizing acceptance of additional funding of the Financial Navigators grant from the Cities for Financial Empowerment Fund, Inc.
Analysis
This resolution authorizes the Department of Administration’s Community Development Grants Administration (CDGA) to accept, and fund the Financial Navigators Grant from the Cities for Financial Empowerment Fund, Inc.
Body
Whereas, The Cities for Financial Empowerment Fund, Inc. (CFE Fund) is a national nonprofit based in New York which aims to improve financial stability by embedding financial empowerment in local government, having received funding for the Financial Navigators initiative from Bloomberg Philanthropies, the Citi Foundation, JP Morgan Chase & Co., and the Wells Fargo Foundation, and serving as both funder and technical assistance provider for the Financial Navigators program, the CFE Fund has selected the City of Milwaukee’s application for a funded award; and

Whereas, The City of Milwaukee appears to be eligible for grant funds from the Cities for Financial Empowerment Fund, Inc. for the Financial Navigators Grant; and

Whereas, CCFN 200661 & 210294 approved funding allocations of $80,000 and $40,000 respectively, from the CFE Fund; and

Whereas, Riverworks Development Corp., is the designated project partner on this grant and the agency responsible for project implementation; designated to receive the additional $40,000 grant award to perform the Financial Navigator activity; now therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the Community Development Grants Administration (CDGA) is hereby authorized to accept and allocate funding awards to Riverworks Development Corp; and, be it

Further Resolved, That the City of Milwaukee assures and certifies that it will comply with the policies guidelines and requirements with respect to the acceptance and use of the Financial Naviga...

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