Approve and authorizing a Second Amendment to a grant agreement (Contract No. C78238) among the City of Houston, the Cities for Financial Empowerment Fund (“CFE Fund”), and Greater Houston Community Foundation (“GHCF”) for the Implementation of a Financial Empowerment Center (Approved by Ordinance No. 2019-0923 and Ordinance No. 2020-0657); containing provisions relating to the subject; and declaring an emergency.
RECOMMENDATION:
City Council approve and authorize a Second Amendment to a grant agreement among the City of Houston, the Cities for Financial Empowerment Fund, and Greater Houston Community Foundation for the Implementation of a Financial Empowerment Center.
SPECIFIC EXPLANATION:
The Mayor’s Office of Complete Communities (MOCC) requests City Council approval of a Second Amendment to the agreement between the Cities for Financial Empowerment (CFE) Fund, Greater Houston Community Foundation (GHCF), and the City of Houston (COH).
In November of 2019, the Houston City Council approved two ordinances to implement the Financial Empowerment Centers (FEC) program in the Complete Communities of Acres Home and Magnolia Park-Manchester. The FEC delivers professional, one-on-one financial counseling as a free city service and offers cities a tangible strategy to help those most in need of critical one-on-one assistance and to build community financial stability. To address complex financial challenges, people in financial trouble need individualized help, not just education. In the FEC, specially trained counselors work with clients on asset building, banking access, consumer protection, financial responsibility of home ownership, qualification for affordable housing, and financial education. Counselors first conduct financial triage with clients to determine the nature of their financial situation, set goals, and establish a specific plan of action with each client-focused in one or more of four primary domains: banking, increasing savings, reducing debt, and building credit. Clients may also be referred to other supportive services that will enhance the quality of life of that individual.
The Second Amendment will extend the agreement through April 30, 2022. . In consideration of this contract term, the City will continue to provide financial counseling services through its nonprofit partner, The Alliance, under the terms and conditions of the original agreement. The Mayor’s Office of Complete Communities will work with the Strategic Procurement Division to begin the procurement for a new contract for professional financial counseling services for the FEC with a Request for Proposal (RFP) as soon as we can.
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Shannon Buggs, Director, Mayor’s Office of Complete Communities