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TO: Mayor Richard C. Irvin
FROM: Martha Paschke, Director, Innovation & Strategy
DATE: August 08, 2024
SUBJECT:
A resolution approving the acceptance of a donation from The Huntington Foundation, in the amount of $30,000, for the Aurora Financial Empowerment Center.
PURPOSE:
To obtain the City Council's approval to accept a grant from The Huntington Foundation in the amount of $30,000 to assist with operational costs for the Aurora Financial Empowerment Center (FEC).
BACKGROUND:
In 2019, the City of Aurora applied for grant funds to launch the Aurora Financial Empowerment Center, a part of a growing network of FEC's embedded in local governments across the country, committed to providing free, one-to-one financial counseling, delivered by professionally trained counselors, to low-and-moderate income residents. The Aurora FEC has been successful in its first three years. Therefore, the City of Aurora has maintained a contract with The Neighbor Project, with an annual extension through 2024, to continue to provide financial counseling to the community to improve the quality of life of Aurora area residents.
DISCUSSION:
The contractual services and other direct costs for The Financial Empowerment Center are funded through grants, sponsors and fundraising. The contractual service amount for 2024, paid to The Neighbor Project, providing Aurora FEC services, is not to exceed $315,400. The Huntington Foundation expresses its willingness to financially support the vision and efforts of the Aurora Financial Empowerment Center by contributing to its operational costs.
The successes and sustainability of the FEC have led to the City of Aurora approving a contract with The Neighbor Project to continue providing financial counseling services and programming. Aurora FEC counselors have steadily increased their caseloads and outcomes, providing counseling services to low- and moderate-income residents, and referring clients to partner agency services.
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