Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to execute a grant agreement with Jordan Rieser Legacy Foundation for a 12 month period from as early as July 1, 2023, in an amount up to $50,000.00, using general funds from the Elevate 1.0! Program.
This is Year Two of a Three Year commitment to Elevate! 1.0 grantees. The intended use of the funds provided through the Elevate! 1.0 is to increase the organizational capacity of the selected nonprofit organizations.
The total amount of funds allocated to Elevate! 1.0 grantees is $5,000,000.00. Earlier this year, $4,950,000.00 of that total was allocated in ordinances 1825-2023, 1826-2023 and 1827-2023. This represented 47 of the 48 grantees in that initiative. All ordinances were approved on 7/17/2023.
Jordan Rieser Legacy Foundation is the last remaining Elevate! 1.0 Grantee, and the $50,000.00 in General Funds requested to allocate to them is the remainder of the $5,000,000.00 total for the Elevate! 1.0 Initiative.
FISCAL IMPACT: Funding for these expenditures has been allocated within the Elevate 1.0 General Fund budget (Fund 1000), in an amount up to $50,000.00. ($50,000.00)
CONTRACT COMPLIANCE: the vendor number is 032987 and the expiration date is 12/6/2024.
Title
To authorize the Director of the Department of Development to enter into a Grant Agreement with Jordan Rieser Legacy Foundation for a 12 month period from as early as July 1, 2023 in an amount up to $50,000.00 for Year 2 of the department’s Elevate 1.0 program; to authorize the transfer and expenditure of $50,000.00 from Object Class 03 to Object Class 05 in the Department of Development’s 2023 General Fund budget; and to authorize the advancement of funds on a pre-determined schedule during the term of the agreement. ($50,000.00)
Body
WHEREAS, in the City received 86 proposals with over $9.8 million in requests; and
WHEREAS, 48 agencies were selected for up to 3 years of funding th...
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