Explanation
BACKGROUND: This legislation authorizes Columbus City Council to apply for and receive a grant from the Ohio CDC Association to support an Individual Development Account pilot program for Columbus students, and to enter into contract with the Ohio CDC Association for administration of the grant.
The Ohio CDC Association operates the U.S. Department of Health and Human Services, Administration for Children and Families, Assets for Independence (AFI) Individual Development Account (IDA) project. Columbus City Council has been awarded a federal contribution of $40,000 from the Ohio CDC Association for the Applications for Purpose, Pride and Success (APPS) “Earn to Learn” Pilot Program. The Ohio CDC Association is the state of Ohio’s network grantee for the AFI funds. Columbus City Council will contribute $20,000 as part of the non-federal match requirement of the grant, and $3,200 in required program fees.
The APPS program was created in 2011 with the mission of providing employment opportunities as a prevention and intervention strategy for Columbus youth and young adults (ages 14-23). APPS participants get work experience at local recreation centers while also attending classes in leadership, workforce readiness, and financial education. As a new component of the program, twenty (20) income-eligible participants and will have the opportunity to participate in an “Earn to Learn” matched scholarship program where their savings will be matched 8:1 for post-secondary expenses.
To be eligible to participate, students must have a net worth less than $10,000 and must meet federal poverty level guidelines. IDA participants are also required to participate in financial education classes and attend an orientation at their school of choice.
Emergency action is necessary due to the short timeframe for the start of summer programming.
FISCAL IMPACT: Funding for this expense is allocated from the Job Growth subfund.
Title
To authorize City Council to apply f...
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