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TO: Mayor John Laesch
FROM: Toshia Moss, Manager Financial Empowerment Center
DATE: April 3, 2026
SUBJECT:
A Resolution authorizing the execution of the Expert Partner Memorandum of Understanding between the Cities for Financial Empowerment Fund, Inc., and the City of Aurora.
PURPOSE:
The Aurora FEC became an FEC Expert Partner in 2022 and will continue to operate an FEC as a high-quality public service, actively contribute to the national FEC learning community (“FEC Public Learning Community”), receive technical assistance resources, and continue to use the Cities for Financial Empowerment Fund (“the CFE Fund”) central FEC database at no-cost. The Expert Partner Memorandum of Understanding reflects that the CFE Fund is expanding the Scope of Work of the Financial Empowerment Center Expert Memorandum of Understanding (the "MOU") to include legacy planning into the FEC model at no cost to the City of Aurora. Creating an opportunity for municipalities to integrate legacy planning into core service offerings, further strengthening long-term financial stability and wealth-building for residents.
BACKGROUND:
In 2019, the City of Aurora applied for and received the Financial Empowerment Center Implementation Grant funds from the CFE Fund as a match grant to support municipal engagement to improve the financial stability of low- and moderate-income households by embedding financial empowerment strategies into local government infrastructure. The Neighbor Project (TNP) was hired as the servicing contractors for the grant agreement with CFE. The Aurora FEC became a part of a growing network of FECs embedded in local governments across the country, committed to providing free, one-to-one financial counseling, delivered by professionally trained coaches, to low- and moderate-income residents.
DISCUSSION:
Since implementation, the Aurora FEC served over 2,500 clients, had 3,288 outcomes, helped clients increase savings by more than $1,599,141 and reduced debt by over $5,364,383. As the Aurora FEC expands, it is important to be supportive of the national organization and to remain involved in a national learning community. The Aurora FEC continues to receive recommendations for continued success from partnering cities and contributes to the success of other pilot FECs nationwide. The CFE Fund designated the Aurora FEC as FEC Expert Mentor in addition to the designation of Expert Partner.
IMPACT STATEMENT:
The proposed resolution will expand the service plan of the Financial Empowerment Center to include one-on-one professional coaching in legacy planning, aligning with the Cities for Financial Empowerment Fund’s expanded scope of work, which supports the FEC Public Learning Community and provides municipalities the option to integrate legacy planning into their core service delivery.
RECOMMENDATIONS:
Approval is requested to authorize execution of the Memorandum of Understanding between the Cities for Financial Empowerment Fund, Inc. and the City of Aurora.
cc: Public Health, Safety, and Transportation Committee
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution authorizing the execution of the Expert Partner Memorandum of Understanding between the Cities for Financial Empowerment Fund, Inc., and the City of Aurora.
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, (the City of Aurora is a former recipient of a CFE Fund grant to implement a Financial Empowerment Center ("FEC"), and the City continues to operate their FEC; and
WHEREAS, the City of Aurora first received FEC Expert Partner designation on May 1, 2022 through October 31, 2023, and
WHEREAS, The City of Aurora received $10,000 grant from the CFE for the FEC's Supervitamin Effect workforce research study agreement dated September 1, 2022, through February 28, 2024 in legistar#23-0071
WHEREAS, The First Amendment dated September 29, 2023 to the agreement extended the Supervitamin Effect workforce research study period through June 30, 2025 in legistar#23-0985; and)
WHEREAS, The Second Amendment dated May 24, 2024 to the agreement expands the scope of work to mentor Pitkin, Colorado through October 2025 and receive the $10,000 stipend in legistar #24-0616; and
WHEREAS, The Third Amendment dated December 1, 2024 to the agreement expanded the scope of work to implement the small business boost and receive the $90,000 to be deposited into 101-1304-365.01-01 and expended through account number 101-1304-419-32.99 through May 31, 2026 in legistar #25-0403; and
WHEREAS, the agreement dated November 1, 2025, reflects updates to the grant and scope of work established by the Cities for Financial Empowerment Fund, including legacy planning as an optional component within the broader Financial Empowerment Center model for municipalities to implement through November 1, 2027, and thus replaces the need for a fourth amendment to the Expert Partner MOU; and
WHEREAS, The Neighbor Project (TNP) was hired as the servicing contractor to provide City residents with free financial coaching and financial literacy services through December 2025, with two optional annual extensions thereafter; and
WHEREAS, the CFE Fund has determined that the support of the City of Aurora in the work contemplated by this MOU furthers the exempt purposes of the CFE Fund;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: The Mayor, or respective designee, is hereby authorized to execute the Memorandum of Understanding between the Cities for Financial Empowerment Fund, Inc. and the City of Aurora to continue as an FEC Expert Partner, and other relevant documents.