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TO: Mayor Richard C. Irvin
FROM: Michele Clark, Director Equity Diversity & Inclusion
DATE: 08/20/2024
SUBJECT:
Request approval to accept the Advancing Economic Mobility Rapid Grant from the National League of Cities in the amount of $20,000.
PURPOSE:
With support from the Bill and Melinda Gates Foundation, NLCl's Advancing Economic Mobility Grant program provides cities with coaching and grant funding to help them test innovative ideas that will boost the economic mobility of residents.
BACKGROUND:
Advancing the upward economic mobility of city residents directly impacts the financial health and long-term viability of municipalities. Research indicates that economically secure families with as little as $250 in savings are better able to weather the ebbs and flows of income drops and unexpected expenses. They are also less likely to rely on local services for housing support and cash assistance.
Municipalities can apply for grants of up to $20,000 designed to spark new ideas or leverage additional funding to promote economic mobility and equity. Up to 12 municipalities will receive funding. Cities applying for the grant were asked to concentrate on one of three areas.
Creating quality employment opportunities for residents
Equitable support to strengthen or start small businesses.
Helping residents connect with services or public benefits such as the Earned Income Tax Credit .
DISCUSSION:
Funding obtained through this grant will support City of Aurora's Government Contracting Beginners Bootcamp. This capacity building program aligns with NLC's focus area Equitable Support to Strengthen or Start Small businesses and Mayor Irvin's S.E.E. initiative. It will target local Spanish- speaking entrepreneurs and seeks to build capacity, increase competitiveness and provide a framework for doing business at the local, state and federal level.
City of Aurora will partner with the Women's Business Development Center (WBDC) to develop a...
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