HomeMy WebLinkAboutSummary FormDate: April 7, 2014
AGENDA ITEM SUMMARY FORM
FILE ID: 14-00342
Requesting Department: Office of Grants Administration
Commission Meeting Date: 05/08/2014 District Impacted: All
Type: ® Resolution ❑ Ordinance n Emergency Ordinance n Discussion Item
n Other
Law Department
Matter ID No.
Subject: Acceptance and appropriation of a grant from the Cities for Financial Empowerment (CFE) Inc., in an
amount not to exceed $395,200 for the purpose of establishing a Summer Youth Employment Program and
implementing an established model to connect participants to financial counseling and banking opportunities.
Purpose of Item:
A Resolution of the Miami City Commission authorizing the acceptance and appropriation of funds from the
Cities for Financial Empowerment (CFE) Fund, Inc. in an amount not to exceed $395,200 and establishing a new
Special Revenue Project entitled "Summer Youth Employment Program" for the purposes of supporting 100
summer youth employment opportunities as well as research and develop program components to connect
participants to financial counseling and banking opportunities; further authorizing the City Manager to negotiate
and execute the award agreement and amendments in a form acceptable to the City Attorney, in order to
implement said grant award.
Background Information:
The CFE Fund works to promote economic progress in communities around the world and focuses on initiatives
that expand financial inclusion and has partnered with 10 of the largest cities in the US, including Miami to
implement this summer youth initiative. The grant's goal is to replicate and implement in the City of Miami
existing pilot program model to facilitate a coordinated national effort to affect and improve the self-sufficiency
of its low/moderate income youth and increase their access to the financial tools and education that are
fundamental to economic prosperity and success. The CFE Fund has awarded the City a grant in the amount of
$395,200 to hire 100 youth ages 16-19 residing in low to moderate income areas in the City of Miami to establish
the Summer Youth Employment Program.
Budget Impact Analysis
YES Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No: TBD
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
$395,200
CIP r{/4
If using or re apj�dsf-�""'
Grants
Final Approvals
(SIGN AND DATE
Budge
Risk Management
Dept. Director
City Manager
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