RESOLUTION NO. (N.C.S.)
A RESOLUTION OF THE CITY COUNCIL AUTHORIZING THE CITY MANAGER OF SALINAS TO SIGN A MEMORANDUM OF UNDERSTANDING ACCEPTING A $20,000 PLANNING GRANT FROM THE CITIEIS FOR FINANCIAL EMPOWERMENT FUND, INC.
WHEREAS, the City of Salinas recognizes that 14.2 percent of residents live below the poverty level and that with the rising cost of living in an already expensive city in California that it is important to develop as many fiscal supports as possible for our residents.; and WHEREAS, On October 25 the City of Salinas was invited into the Financial Empowerment Centers (FEC)Academy; and WHEREAS, The FEC Academy is a 15-month planning process broken into two phases. The first phase provides partners with an overview of the FEC model and tools to explore the feasibility of launching a FEC in their locality. Phase 2, provides in-depth technical assistance and access to a $20,000 grant to support the FEC planning process.; and WHEREAS, the Financial Empowerment Centers (FECs) offer professional, one-on-one financial counseling as a free public service; and WHEREAS, multiple avenues of grant support, intensive technical assistance, and a vibrant national learning community will help Salinas plan, launch, and sustain an FEC for our residents.
NOW, THEREFORE, BE IT RESOLVED that the City Council of hereby authorizes the City Manager to sign a Memorandum of Understanding accepting a $20,000 grant from Cities for Financial Empowerment, Inc. for the planning and implementation of a Financial Empowerment Center in Salinas; and BE IT FURTHER RESOLVED that the City Council authorizes establishment of the expenditure and revenue appropriations for the Cities for Financial Empowerment, Inc. Grant.
PASSED AND APPROVED this 9th day of September 2025 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
APPROVED:
________________________
Dennis Donohue, Mayor
ATTEST:
_________________________
Patricia M. Barajas, City Clerk
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