CITY of ALBUQUERQUE
TWENTY FIFTH COUNCIL
COUNCIL BILL NO. R-22-60 ENACTMENT NO. ________________________
SPONSORED BY: Klarissa Pe?a, by request
RESOLUTION
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Approving And Authorizing A Grant Application For, And Acceptance Of, Grant Funds From The Cities For Financial Empowerment Fund, Inc. And Providing An Appropriation To The City Of Albuquerque Legal Department For Fiscal Year 2023 (Pe?a by request)
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WHEREAS, the Albuquerque City Council previously approved the City of Albuquerque Legal Department's ("Legal Department") engagement with the Cities for Financial Empowerment Fund, Inc. ("CFE Fund") to further the City's financial empowerment initiatives via resolutions R-18-114, R-19-170, and R-2020-055; and
WHEREAS, the CFE Fund invited the Legal Department to apply for a Bank On Capacity Grant because of the success of its Bank on Burque program and the potential to continue to expand the program's capacity; and,
WHEREAS, the Legal Department applied to the CFE Fund for the Bank On Capacity Grant in the amount of $25,000; and
WHEREAS, the CFE Fund Bank On Capacity grant requires no City match or indirect overhead; and
WHEREAS, the Legal Department desires to accept these CFE Fund Bank On Capacity grant funds, if awarded; and
WHEREAS, the funds will be used to improve availability of appropriate low-cost checking accounts without overdraft fees that meet the national Bank On National Account Standards, raise awareness of the program and recruit more financial institutions and community partners to join the Bank On Burque Coalition; and
WHEREAS, as part of the Bank on Capacity grant, the CFE Fund will provide the City with a range of technical assistance services and support as part of an on-going learning community; and
WHEREAS, the City of Albuquerque is dedicated to promoting the financial well-being of residents.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY
OF ALBUQUERQUE:
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