Board of Estimate & Contract:
RESOLVED, that an ordinance adopted by the City Council on January 10, 2024, and signed by the Mayor on January 11, 2024, authorizing the Mayor to accept a grant from the African American Mayors Association in support of the Mount Vernon Financial Empowerment Center - ($30,000), be and the same is hereby approved.
City Council:
AN ORDINANCE AUTHORIZING THE MAYOR TO
ACCEPT A GRANT FROM THE AFRICAN AMERICAN
MAYORS ASSOCIATION IN SUPPORT OF THE MOUNT
VERNON FINANCIAL EMPOWERMENT CENTER
WHEREAS, by letter dated January 2, 2024, the Commissioner of the Department of Planning and Community Development has requested legislation be enacted authorizing the Mayor to accept a grant in the amount of $30,000.00 from the African American Mayors Association (“AAMA”) to support the operation of the Mount Vernon Financial Empowerment Center. The Department of Planning and Community Development will work with Cities for Financial Empowerment Fund (“CFEF”) and Mercy University to launch the new Mount Vernon Financial Empowerment Center (“FEC”) within the City of Mount Vernon; and
WHEREAS, the grant from AAMA will supplement the FEC operational budget. The FEC is also funded through $400,000 in federal funds from the City’s American Rescue Plan Act budget and a $150,000 grant from Cities for Financial Empowerment Fund; and
WHEREAS, in anticipation of receiving the grant, the City requests approval to enact legislation authorizing the Mayor to accept the grant; and
WHEREAS, the FEC will provide free, professional, one-on-one financial counseling and coaching to residents, managed by Mercy University with support from federal funds, the Cities for Financial Empowerment Fund grant, and the African American Mayors Association; NOW, THEREFORE, BE IT RESOLVED THAT
The City of Mount Vernon, in City Council, convened, hereby ordains, and enacts:
Section 1: Authorization to Accept Grant and Execute Agreement. The City Council hereby authorizes the Mayor to accept a grant in the amount of $30,000.00 from the African American Mayors Association (“AAMA”) to support the operation of the Mount Vernon Financial Empowerment Center. The Department of Planning and Community Development will work with Cities for Financial Empowerment Fund (“CFEF”) and Mercy University to launch the new Mount Vernon Financial Empowerment Center (“FEC”) within the City of Mount Vernon.
Section 2: FEC Operational Budget. The FEC’s operational budget for two years, totaling $580,000, shall be funded through $400,000 in federal funds from the City's American Rescue Plan Act budget, $150,000 grant from Cities for Financial Empowerment Fund, and $30,000 from the African American Mayors Association.
Section 3: FEC Management. Mercy University is authorized to manage the FEC and hire and train three full-time employees.
Section 4: Oversight and Promotion. The Department of Planning and Community Development will oversee the initiative, work with community and nonprofit partners to promote services, and establish partnerships with local service providers.
Section 5: Effective Date. This ordinance shall take effect upon its approval by the Board of Estimate & Contract.