STRATEGIC PRIORITY: Human and Social Needs
AGENDA DATE: February 10, 2021
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Community Care
EXECUTIVE: Kimberly Bizor Tolbert
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SUBJECT
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Authorize the (1) acceptance of a grant from the Cities for Financial Empowerment Fund, Inc. for the 2020 Financial Navigators Grant in the amount of $80,000.00 to support a financial navigators program to provide remote services to residents who seek financial guidance for the period August 1, 2020 through July 31, 2021; (2) receipt and deposit of funds in an amount not to exceed $80,000.00 in the 2020 Financial Navigators Grant Fund; (3) establishment of appropriations in an amount not to exceed $80,000.00 in the 2020 Financial Navigators Grant Fund; and (4) execution of grant agreement with the Cities for Financial Empowerment Fund, Inc. and all terms, conditions, and documents required by the agreement - Not to exceed $80,000.00 - Financing: Cities for Financial Empowerment Fund, Inc. Grant Funds
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BACKGROUND
The Cities for Financial Empowerment Fund, Inc. (CFE) is a 501(c)3 that offers funding and technical assistance to help improve the financial stability of low- and moderate-income households by embedding financial empowerment strategies into local government infrastructure.
The Financial Navigators initiative helps residents deal with the financial impact of the COVID-19 pandemic, providing remote assistance in navigating critical financial issues and making referrals to other social services and resources. Trained Financial Navigators provide structured guidance over the phone to help people strategize around supports for disruptions to their income and other financial concerns. They help residents triage financial issues, identify immediate action steps, and make referrals to other services. Assistance includes managing expenses through prioritizing payments and when to make them, as well as maximizing income through ensuring receipt of federal payments, unemployment benefits, and other resources.
For the City of Dallas, the funding will provide for staff to provide direct service for at least 1,200 sessions over the life of the grant, as well as outreach and a small budget for technology for staff to access the Financial Navigators software provided by CFE. This program complements both current support services offered at the City’s community centers, and long term plans to develop stand-alone financial empowerment centers.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
City Council will be briefed by memorandum regarding this matter on February 5, 2021. <https://dallascityhall.com/government/citymanager/Documents/FY%2020-21%20Memos/Financial-Navigators-Grant_Memo_020521.pdf>
FISCAL INFORMATION
|
Fund |
FY 2021 |
FY 2022 |
Future Years |
|
2020 Financial Navigators Grant Funds |
$80,000.00 |
$0.00 |
$0.00 |