City Council:
AN ORDINANCE AUTHORIZING THE MAYOR
TO EXECUTE A CONTRACT AMENDMENT WITH
THE CITIES FOR FINANCIAL EMPOWERMENT
FUND TO INCORPORATE LEGACY PLANNING
SERVICES IN THE MOUNT VERNON
FINANCIAL EMPOWERMENT CENTER
Whereas, in correspondence dated August 4, 2025, the Commissioner of the Department of Planning & Community Development formally requested authorization for the Mayor to execute the “First Grant Amendment,” dated June 1, 2025, with the Cities for Financial Empowerment Fund, amending the original FEC Implementation Grant Agreement dated February 1, 2024, to incorporate Legacy Planning Services into the Mount Vernon Financial Empowerment Center; and
Whereas, the City of Mount Vernon previously entered into a Financial Empowerment Center (FEC) Implementation Grant Agreement with the Cities for Financial Empowerment Fund (CFE Fund) on February 1, 2024, to provide free, professional financial counseling to city residents; and
Whereas, the CFE Fund has issued a proposed First Grant Amendment to the aforementioned agreement, dated June 1, 2025, to expand the scope of services offered at the Mount Vernon FEC to include Legacy Planning services; and
Whereas, this amendment provides an additional Fifty Thousand Dollars ($50,000) in grant funding, to be deposited under Revenue Code A2705.1 “Gifts and Donations,” to support the integration of Legacy Planning into the City's FEC programming; and
Whereas, the amendment includes an extension of the contract term through May 31, 2027, updates to the Scope of Work, Model, and Budget Exhibits (B, C, and D), and a revised disbursement schedule of $25,000 in Year 1 and $25,000 in Year 2; and
Whereas, the inclusion of Legacy Planning services-such as wills, beneficiary designations, estate planning education, and intergenerational wealth preservation-aligns with the City’s objectives to promote financial stability and empower residents with future planning tools; and
Whereas, the City Council deems it in the best interest of the residents of Mount Vernon to authorize the Mayor to enter into the First Grant Amendment to facilitate these services; Now, Therefore, Be It Resolved That
The City of Mount Vernon, in City Council convened, does hereby ordain and enact:
Section 1. Authorization to Execute Contract Amendment. The Mayor of the City of Mount Vernon is hereby authorized to execute the First Grant Amendment, dated June 1, 2025, with the Cities for Financial Empowerment Fund, amending the existing Financial Empowerment Center Implementation Grant Agreement originally dated February 1, 2024.
Section 2. Purpose of Amendment. The purpose of the amendment is to integrate Legacy Planning services into the Financial Empowerment Center, including but not limited to estate planning education, will and beneficiary designation support, and other intergenerational wealth preservation services.
Section 3. Grant Funding and Budgeting. The additional grant funding of Fifty Thousand Dollars ($50,000) shall be deposited in Revenue Code A2705.1 “Gifts and Donations” and shall be appropriated in accordance with the updated Scope of Work and Budget provided in the amendment.
Section 4. Term Extension and Disbursement Schedule. The term of the contract shall be extended through May 31, 2027, with a disbursement schedule of $25,000 in Year 1 (June 2025-May 2026) and $25,000 in Year 2 (June 2026-May 2027), subject to performance-based benchmarks and documentation requirements as detailed in the amendment.
Section 5. Effective Date. This ordinance shall take effect immediately upon approval by the Board of Estimate and Contract.