Explanation
Background:
Franklinton Development Association's Financial Life-Skills Program was launched in 2018 to help community members better navigate the complex worlds of finances and housing. The 12-hour program is broken up into six classes that review the participants' relationship with money, budgeting, banking, credit, loans, debt management, job-training, entrepreneurship, taxes, and insurance. The program utilizes the curriculum provided by the National Financial Educators Council.
Ordinance 3360-2022 authorized the Director of Finance and Management to appropriate and expend $130,000 of the United States Department of Housing and Urban Development (HUD) Community Development Block Grant (CDBG) funding through the Franklinton Development Association Community Support Services Subrecipient Agreement.
This ordinance is needed to authorize the Director of Finance and Management to modify the aforementioned Subrecipient Agreement to modify the agreement's budget and extend the time period of the agreement due to project delays.
Fiscal Impact: There is no additional funding required for this extension.
Emergency Designation: An emergency exists in the usual daily operation of the Department of Finance and Management in that it is immediately necessary to authorize the Director to extend this agreement so that the Subrecipient will have the ability to continue their project, avoid disruption in services, and allow grant funds to continue to be available to the Subrecipient
Title
To authorize the Director of Finance and Management to modify the Community Development Block Grant (CDBG) Subrecipient Agreement for Franklinton Development Association in the amount of $130,000.00 in order to extend the period of the agreement through September 30, 2024; and to declare an emergency ($0.00)
Body
WHEREAS, the City supports Franklinton Development Association's mission to stabilize and positively impact the community through the lens of housing; and
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