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 ...
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