Explanation
BACKGROUND:
This ordinance authorizes the Director of Development to execute a grant agreement with IMPACT Community Action, in an amount up to $75,000.00, for its “Drive to Thrive” program.
In the 2017 IMPACT Community Needs Assessment, transportation was identified as a key barrier to employment by individuals completing the survey. Eighty-two percent of survey respondents identified insufficient access to transportation as a barrier, 91 percent identified lack of transportation as a condition of poverty, and 79 percent identified transportation vouchers as a much needed resource. Further, in a study conducted by the University of Harvard, and published April, 2015, commuting time has emerged as the single strongest factor in the odds of escaping poverty. Nathaniel Hendren, a Harvard economist researcher summed up the issue stating that “the longer an average commute in a given county, the worse the chances of low income families there moving up the ladder.” According to a 2012 study Travel and Poverty, a reliable means of transportation offers access to greater opportunities such as access to lower-cost, healthier foods, increased employment opportunities, wider education options, healthcare and friends, which affect the quality of life. Considering these factors and the importance of transportation to securing or maintaining employment; IMPACT Community Action has developed programming to enable program participants to increase their mobility options by saving funds to purchase a vehicle.
The “Drive to Thrive” Individual Development Account (IDA) will assist workforce training participants with saving money for a vehicle purchase and/or down payment. The participant’s dollars are matched at a 4:1 ratio. Participants are asked to save at least $500 and are matched with $2,500 for a total of $3,000 toward the purchase of a vehicle. Participants must save for at least 30 days prior to applying for match funds. Eligible participants will consist...
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