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A resolution accepting a Summer Jobs Connect grant from the Cities for Financial Empowerment Fund, Inc. (“CFE Fund”) to the Metropolitan Government, acting by and through the Metro Action Commission, to implement a comprehensive financial empowerment program that provides participants with access to safe bank or credit union products.
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WHEREAS, CFE Fund, has awarded a grant in an amount not to exceed $10,000.00 with no cash match required to the Metropolitan Government, acting by and through the Metro Action Commission, to implement a comprehensive financial empowerment program that provides participants with access to safe bank or credit union products; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this grant be accepted.
NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Summer Jobs Connect grant by and between the Cities for Financial Empowerment Fund, Inc., in an amount not to exceed $10,000.00, and the Metropolitan Government, acting by and through the Metro Action Commission, to implement a comprehensive financial empowerment program that provides participants with access to safe bank or credit union products, a copy of which is attached hereto and incorporated herein, is hereby approved.
Section 2. That the amount of this grant is to be appropriated to the Metro Action Commission based on the revenues estimated to be received and any match to be applied.
Section 3. That this resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution accepts a grant from the Cities for Financial Empowerment Fund, Inc., to the Metropolitan Action Commission (“MAC”) to implement a comprehensive financial empowerment program that provides participants with access to safe bank or credit union products.
The Summer Jobs Connect program will provide banking access and finance empowerment training to participants in summer youth employment programs. MAC will utilize these funds to provide financial literacy for youth.
The grant award is in an amount not to exceed $10,000. The grant term would be effective as of May 1, 2023, and end on April 15, 2025.