Title
Supplemental Agreement with International Rescue Committee, Inc. for the Financial Empowerment Center[JB1][DM2]
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FileID
File ID: 2024-01178
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Location
Location: Citywide
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Recommendation
Recommendation: Pass a Motion authorizing the City Manager or the City Manager's designee to execute Supplemental Agreement No. 6 to City Agreement No. PRC000666 with International Rescue Committee, Inc. (IRC), for an amount not-to-exceed $450,000 for a new total not-to-exceed agreement amount of $2,109,214.
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Contact
Contact: Amy Williamson, Financial Empowerment Manager, (916) 808-1046, awilliamson@cityofsacramento.org; Leslie Fritzsche, Economic Development Investment Manager, (916) 808-1540, lfritzsche@cityofsacramento.org; Lynette Hall, Community Engagement Manager, (916) 808-1955, lhall@cityofsacramento.org; City Manager's Office of Innovation and Economic Development
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Presenter
Presenter: None
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Attachments
Attachments:
1-Description/Analysis
2-Supplemental Agreement
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IssueDetail
Description/Analysis
Issue Detail: The City of Sacramento (City) Financial Empowerment Center (FEC) is part of a national network of 30+ active FECs through a Bloomberg-funded initiative known as the Cities for Financial Empowerment Fund (CFE Fund). The FEC provides free, professional, one-on-one financial coaching for local residents aged 18 and over. Key metrics for FEC clients are safe/affordable bank and credit union account access, establishing/improving credit, reducing debt, and building savings.
Cities are required to contract with a lead community-based organization for FEC operations. Through an RFP process in early 2019, the City selected the Sacramento office of IRC as its contract partner. As also required by the CFE Fund, in September 2019 the City hired an FEC Manager in the Office of Innovation and Economic Development.
In December 2019, IRC's contract for FEC operations began, and the City's FEC Manager worked with I...
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