WHEREAS, the City of Atlanta (“City”) is committed to increasing financial literacy among its residents through programs that are designed to provide ongoing financial education, counseling and coaching; and
WHEREAS, the National League of Cities started the Bank On initiative in 2005 to raise awareness of the benefits of account ownership and to bring the unbanked into the financial mainstream by increasing the supply of starter and second chance personal and business accounts; and
WHEREAS, the City launched its Bank On Atlanta initiative in 2017; and
WHEREAS, in conjunction with of the City’s Bank On Atlanta initiative, the City seeks to establish a Financial Empowerment Center (“Center”); and
WHEREAS, the Center will provide free financial counseling services to the public through an approved nonprofit organization that will provide certified counselors; and
WHEREAS, the Cities for Financial Empowerment Fund provides grant funds to local governments to assist with the costs of creating and operating Financial Empowerment Centers; and
WHEREAS, if the City is awarded the grant, the Cities for Financial Empowerment Fund will award the City One Hundred Fifty Thousand Dollars and Zero Cents ($150,000.00) in the first year and One Hundred Thousand Dollars and Zero Cents ($100,000.00) in the second year of the grant program.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ATLANTA, GEORGIA, HEREBY RESOLVES, that the Mayor, or her designee, is authorized to apply for and accept a grant from the Cities for Financial Empowerment Fund in an amount not to exceed One Hundred Fifty Thousand Dollars and Zero Cents ($150,000.00) in year one and One Hundred Thousand Dollars and Zero Cents ($100,000.00) in year two.
BE IT FURTHER RESOLVED, that the Mayor, or her designee, is authorized to enter into any required agreements for participation and implementation of the grant and the associated program.
BE IT FURTHER RESOLVED, that the City Attorney, or her designee, is directed to prepare any required grant or agreement documents for execution by the Mayor or her designee.
BE IT FINALLY RESOLVED, that the agreement will not become binding on the City, and the City will incur no obligation or liability under it, until it has been approved as to form by the City Attorney or her designee, executed by the Mayor or her designee, attested to by the Municipal Clerk, and delivered to the Cities for Financial Empowerment Fund.