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An ordinance approving a contract between The Metropolitan Government of Nashville and Davidson County, acting by and through the Mayor’s Office, and the United Way of Middle Tennessee, Inc., to provide financial counseling and other financial education activities to low-income residents in accordance with the Financial Empowerment Center program model.
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WHEREAS, it is to the mutual benefit of the United Way of Middle Tennessee, Inc., and The Metropolitan Government of Nashville and Davidson County, acting by and through the Mayor’s Office, to provide financial counseling and other financial education activities to low-income residents in accordance with the Financial Empowerment Center program model; and,
WHEREAS, the United Way of Middle Tennessee, Inc., and The Metropolitan Government of Nashville and Davidson County, acting by and through the Mayor’s Office, have entered into a contract, attached hereto and incorporated herein, to provide financial counseling and other financial education activities to low-income residents in accordance with the Financial Empowerment Center program model; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this contract be approved.
NOW THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1: That the contract between The Metropolitan Government of Nashville and Davidson County, acting by and through the Mayor’s Office, and the United Way of Middle Tennessee, Inc., to provide financial counseling and other financial education activities to low-income residents in accordance with the Financial Empowerment Center program model, a copy of which is attached hereto and incorporated herein, is hereby approved.
Section 2: That this ordinance shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This ordinance approves a contract between the Metropolitan Government and the United Way for the continuation of the Nashville Financial Empowerment Center. The Metropolitan Government was the recipient of a grant from Bloomberg Philanthropies for the purpose of operating the financial empowerment program through December 2015. The Financial Empowerment Center program has subsequently been extended by Ordinance Nos. BL2016-387, BL2017-869, BL2018-1313, BL2019-10, BL2020-552, BL2021-914, and BL2022-1386.
The Financial Empowerment Center provides one-on-one financial counseling and other financial education activities at no charge to low-income residents. The term of this contract began July 1, 2023, and ends June 30, 2024. The United Way agrees to conduct a minimum of 2,160 counseling sessions during this period. At least three full-time (or equivalent) counselors would be retained and supervised to provide these services. Metro will provide $500,000 to the United Way for this purpose. This is an increase from prior contracts. Metro provided $276,000 for the Financial Empowerment Center through BL2022-1386 and BL2021-914 and $250,000 through BL2020-552.
Fiscal Note: Metro would pay United Way of Middle Tennessee an amount not to exceed $500,000 to provide free one-on one financial counseling and other financial education activities to low-income residents in accordance with the Financial Empowerment Center program model through June 30, 2024.