HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
Date: February 13, 2015
Commission Meeting Date: 03/26/2015
15-00233
FILE ID:
Requesting Department: Office of Grants Administration
District Impacted: All
Type: a Resolution D Ordinance 0 Emergenoy Ordinance D Discussion Item
fl Other
Subject: Acceptance and appropriation of a grant from the Cities for Financial Empowerment (CFE) Inc., in an
amount not to exceed $491,970 for the purpose of establishing a Summer Youth Employment & Financial
Empowerment Program and implementing an established model to connect partioipants to financial counseling
and banking opportunities.
Law Department
Matter ID No.
Pur ose 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 $491,970 and establishing a new
Special Revenue Project entitled "Summer Youth Employment Program 2015" for the purposes of supporting 122
summer youth employment opportunities as well as develop program components to connect participants to
financial counseling and banking opportunities; further authorizing the City Manager to negotiate and execute the
award agreement, amendments and extensions in a form acceptable to the City Attorney, in order to implement
said grant award.
Back round 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 5 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 prograrn 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
$491,970 to hire 122 youth ages 16-19 residing in low to moderate income areas in the City of Miami to establish
the Summer Youth Employment & Financial Empowerment 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:
CIF
Irusing or cc
Grants
Purchasing
Chief
$491,970
Fivat Approvals
(SIGN AND DATE).
Bud
Risk Managemen
Dept. Director
City Manager
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