Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to execute a grant agreement with the following not-for-profit agency the Tony R Wells Foundation dba The Wells Foundation in an amount up to $1,453,158.80 to provide time-limited payments of unrestricted funds to individuals engaged in an economic mobility initiative that is supported by a non-profit organization. Authorization to pay for administrative and/or staffing expenses incurred starting January 1, 2025 through December 31, 2027. To authorize the advancement of funds on a predetermined schedule as well as authorizing the appropriation and expenditure of funds within the Income Tax Set Aside fund.
In today’s post-COVID economy, many Columbus residents are challenged with making ends meet, yet they continue to work hard to increase their income and attain economic stability. Challenges to achieving economic stability include stagnant wages and rising costs (e.g., housing, child care, and food). These conditional cash transfers to residents participating in economic mobility initiatives will accelerate their economic mobility.
By increasing financial security, individuals can experience improved health and well-being as stress, anxiety and depression are decreased. Stability in housing and employment enables better outcomes for children in health, education and social connection. Moving toward greater economic stability can shape one’s opportunities and aspirations with promises of a better future.
The public purpose of this agreement is to provide funding in order to integrate economic mobility accelerators with their economic mobility activities, which will accelerate the economic mobility of individuals experiencing poverty in Columbus.
The Tony R. Wells Foundation will make the payments directly to the individuals. They will also provide each recipient with a 1099. A portion of the grant amount will account for the administration fee for the Foundation’s services. In addition, the Tony R. Foundation will oversee an independent evaluation to provide recommendations for improving, scaling, and replicating the initiative.
FISCAL IMPACT: Funding of $1,453,158.80 is available within the Income Tax Set Aside (ITSA) Subfund 100099.
CONTRACT COMPLIANCE: CC-038668 Expires 06/22/2025
Title
To authorize the Director of the Department of Development to execute a grant agreement with the following not-for-profit agency, The Tony R. Wells Foundation, in an amount up to $1,453,158.80 to provide time-limited payments of unrestricted funds to individuals engaged in an economic mobility initiative that is supported by a non-profit organization.as well as pay the administration costs for the Foundation’s services (i.e. administrative and staffing costs); to authorize the appropriation and expenditure in an amount up to $1,453,158.80 within the Income Tax Set Aside (ITSA) Subfund; to authorize the agreements to be effective January 1, 2025 through December 31, 2027; and to authorize the advancement of funds on a predetermined schedule. ($1,453,158.80)
Body
WHEREAS, the Director of the Department of Development desires to enter into a grant agreement with the following not-for-profit agency The Tony R. Wells Foundation, in an amount up to $1,453,158.80 to provide time-limited payments of unrestricted funds to individuals engaged in an economic mobility initiative that is supported by a non-profit organization. Authorization to pay for administrative and/or staffing expenses; and
WHEREAS, to authorize the grant agreement to be effective January 1, 2025 through December 31, 2027 and the authorization to advance of funds on a predetermined schedule is also requested; and
WHEREAS, many Columbus residents are challenged with making ends meet, yet they continue to work hard to increase their income and economic stability; and
WHEREAS, conditional payments to residents participating in economic mobility initiatives will accelerate their economic mobility; and
WHEREAS, by increasing financial security, individuals can experience improved health, well-being, stability in housing, and employment which in turn enables better outcomes for children in health, education and social connection; and
WHEREAS, The Tony Wells Foundation, will make the payments directly to the individuals and will also provide each recipient with a 1099; and
WHEREAS, the appropriation and expenditure in an amount up to $1,453,158.80 is authorized within the ITSA; and NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development is hereby authorized to execute a grant agreement with the following not-for-profit agency, The Tony R. Wells Foundation, in an amount up to $1,453,158.80 to provide time-limited payments of unrestricted funds to individuals engaged in an economic mobility initiative that is supported by a non-profit organization, as well as pay for administrative and/or staffing expenses for The Tony R. Wells foundation as it relates to the program.
SECTION 2. That the agreement effective date begins January 1, 2025 through December 31, 2027 and the request to advance funds on a predetermined schedule is also authorized.
SECTION 3. That for the purpose stated in Section 1, the appropriation and expenditure in an amount up to $1,453,158.80 or so much thereof as may be needed is hereby authorized within Income Tax Set Aside Subfund (100099), Dept-Div 44-01 (Administration), in object class 05 (Other) per the account codes in the attachment to this ordinance.
SECTION 4. That this grant agreement is awarded in accordance with the relevant provisions of City Code related to awarding grant agreements.
SECTION 5. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 6. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this legislation.
SECTION 7. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.