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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #2014 Date: 03/27/2017 Commission Meeting Date: 04/27/2017 Requesting Department: Office of Grants Administration Sponsored By: District Impacted: All Type: Resolution Subject: Accept Grant - Cities for Financial Empowerment 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 $367,500 and establishing a new Special Revenue Project entitled "Summer Youth Employment Program Expansion 2017" for the purposes of expanding and supporting up to 100 additional summer youth employment opportunities with local businesses and entities and continue to adhere to established 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. Background of Item: 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 7 cities in the US, including Miami to implement and now expand the 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. Since the inception of the program the city has employed over 380 youth and has generated over $980,000 in economic impact. The CFE Fund has awarded the City a grant in the amount of $367,500 to expand the existing program to other local businesses and entities and hire up to 100 additional youth ages 16-19 residing in low to moderate income areas in the City of Miami. Budget Impact Analysis Item is Related to Revenue Item is an Expenditure Item is NOT funded by Bonds Total Fiscal Impact: $367,500 Special Revenue Account No: TBD Office of Grants Administration Office of Management and Budget Office of Management and Budget City Manager's Office Legislative Division City Manager's Office Office of the City Attorney Office of the City Attorney City Commission Office of the Mayor Office of the City Clerk Reviewed B William Porro Fred Pericles Christopher M Rose Anna Medina Valentin J Alvarez Daniel J. Alfonso Barnaby L. Min Victoria Mendez Maricarmen Lopez Mayor's Office City Clerk's Office Department Head Review Budget Analyst Review Budget Review Assistant City Manager Review Legislative Division Review City Manager Review Deputy City Attorney Review Approved Form and Correctness Meeting Signed by the Mayor Signed and Attested by the City Clerk Completed Completed 03/27/2017 11:51 AM Completed 04/10/2017 9:39 AM Completed 04/10/2017 10:18 AM Skipped 04/17/2017 3:50 PM Completed 04/18/2017 9:21 AM Completed 04/18/2017 11:20 AM Completed 04/18/2017 12:06 PM Completed 04/18/2017 1:50 PM Completed 04/27/2017 9:00 AM Completed 05/02/2017 5:54 PM 05/02/2017 6:14 PM City of Miami Legislation Resolution Enactment Number: R-17-0191 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 2014 Final Action Date:4/27/2017 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE ACCEPTANCE AND APPROPRIATION OF FUNDS FROM THE CITIES FOR FINANCIAL EMPOWERMENT FUND, INC., A DELAWARE NON -STOCK, NON-PROFIT CORPORATION ("CFE FUND"), IN AN AMOUNT NOT TO EXCEED THREE HUNDRED SIXTY-SEVEN THOUSAND FIVE HUNDRED DOLLARS ($367,500.00); ESTABLISHING A NEW SPECIAL REVENUE PROJECT ENTITLED "SUMMER YOUTH EMPLOYMENT AND FINANCIAL EMPOWERMENT EXPANSION PROGRAM 2017" FOR THE PURPOSES OF EXPANDING AND SUPPORTING UP TO ONE HUNDRED (100) ADDITIONAL SUMMER YOUTH EMPLOYMENT OPPORTUNITIES WITH LOCAL BUSINESSES AND ENTITIES AS WELL AS CONTINUING TO ADHERE TO ESTABLISHED PROGRAM COMPONENTS TO CONNECT PARTICIPANTS TO FINANCIAL COUNSELING AND BANKING OPPORTUNITIES; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE THE AWARD AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM, AND ANY AMENDMENTS AND EXTENSIONS THERETO, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, IN ORDER TO IMPLEMENT SAID GRANT AWARD. WHEREAS, ACCESS Miami stands for Assets, Capital, Community, Education, Savings and Success; and WHEREAS, ACCESS Miami has as one of its four cornerstones the goal of assisting City of Miami ("City") constituents' access to benefits and the opportunity to reach financial self-sufficiency through financial education; and WHEREAS, the Cities for Financial Empowerment Fund, Inc., a Delaware non -stock, non-profit corporation ("CFE Fund"), supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government; and WHEREAS, the CFE Fund works to promote economic progress in communities around the world and focuses on initiatives that expand financial inclusion and, towards that goal, has partnered with seven (7) cities in the United States, including the City, to implement the Summer Youth Connect initiative; and WHEREAS, the CFE Fund is currently launching the fourth (4th) year expansion of the Summer Jobs Connect pilot program supporting the expansion of summer youth employment programs "with a purpose", and their connection to financial education, one-on-one coaching, empowerment, and banking access initiatives; and WHEREAS, since the inception of the program, the City has employed over three hundred eighty (380) youth throughout the City and has generated over nine hundred eighty thousand dollars ($980,000.00) in local economic impact; and WHEREAS, the CFE Fund desires to leverage the City's investment in the Summer Youth Connect program by providing additional funding necessary to expand the newly established summer program to hire up to an additional one hundred (100) youth at local businesses and entities ("Grant") and to continue to adhere to the established program components of financial counseling and banking opportunities; and WHEREAS, the Grant's goal is to expand, replicate, and implement the City's existing program model and continue to facilitate a coordinated national effort to affect and improve the self-sufficiency of its low/moderate income youth by increasing their access to the financial tools and education that are fundamental to economic prosperity and success; and WHEREAS, the CFE Fund has awarded the City a grant in an amount not to exceed three hundred sixty seven five hundred dollars ($367,500.00) to expand the program and hire up to an additional one hundred (100) youth between sixteen (16) nineteen (19) years of age residing in low to moderate income census tracts in the City and to place them in local businesses and entities to establish the Summer Youth Employment and Financial Empowerment Expansion Program 2017 ("Program"); and WHEREAS, this Grant will also allow the additional participants to receive saving incentives and coaching to improve their banking access, financial education, and financial literacy; and WHEREAS, this Grant provides the City access to participate in a learning community convened under this Program by the CFE Fund and develop a plan to implement an expanded financial education and access to banking components into the Program; and WHEREAS, this Program will leverage and take advantage of its existing financial literacy and individualized financial coaching program components currently offered by ACCESS Miami; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The following new Special Revenue Projects is established and resources are appropriate as described below: PROJECT TITLE: Summer Youth Employment and Financial Empowerment Expansion Program 2017 RESOURCES: CFE Fund $367,500.00 APPROPRIATIONS: Summer Youth Employment and Financial Empowerment Expansion Program 2017 Section 3. The City Manager is authorized' to accept and appropriate this Grant in accordance with the City's application, and to execute the Grant, in substantially the attached form, and further execute any amendments and extensions thereto, in a form acceptable to the City Attorney, in order to implement said Grant award. 1 The herein authorization is further subject to compliance with all requirements that may be imposed by the City Attorney including but not limited to those prescribed by applicable City Charter and City Code provisions. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: snder , City Httor 4/18/2017 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.