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Board committee forwards bill to accept financial empowerment grant to treasurer’s office
Summary
The Budget & Public Employees Committee recommended a do-pass on Board Bill 21 to accept a Cities for Financial Empowerment Fund grant — initial $2,020,000 plus anticipated $300,000 — to expand the city treasurer’s Financial Empowerment Center.
Alderman Rasheen Aldridge introduced Board Bill 21 to authorize the city treasurer’s office to accept a Cities for Financial Empowerment (CFE) program grant to support the Financial Empowerment Center. The ordinance authorizes acceptance of an initial grant of up to $2,020,000 and an anticipated subsequent award up to $300,000, authorizes a memorandum of understanding with the CFE fund and permits necessary contracts and expenditures.
Committee action: Alderman Velasquez moved a do-pass recommendation and Alderman Devote seconded. During roll call the clerk recorded ayes from Alderman Sonnier, Alderman Velasquez, Alderman Devote and Chair Aldridge; the committee reported four aye votes. The committee recommended a do-pass on Board Bill 21 to the full Board of Aldermen.
Why it matters: the grant will fund expansion of financial coaching, curriculum development, community outreach, system building and events under the treasurer’s Financial Empowerment Center, the ordinance summary states. CDA and committee members did not record additional conditions attached to the grant acceptance during the May 28 committee meeting.
