Aurora approves 20‑year contract with Operation Hope to launch 'Aurora Promise' children's savings accounts

The Aurora City Council on Dec. 10 authorized a contract with Operation Hope to operate a city-managed children’s savings account program, approving a resolution (240813) that authorizes the director of purchasing to enter an agreement with Operation Hope for up to $1,983,600.85 over a 20-year term to manage Aurora’s “Aurora Promise” pilot.

Councilmembers described the program as an inclusive pilot that will begin as an opt‑in initiative with two school districts and—if the pilot is successful—transition to opt‑out enrollment after approximately 18 months. City staff and Operation Hope emphasized that the Aurora Promise accounts would not require a Social Security number or ITIN to open; instead the program will use a school ID number as the identifier so children without Social Security numbers can participate. City staff said this was a principal design…