HomeMy WebLinkAbout10965
City Clerk's Office Item # R6
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: June 9, 2025
TO: President Mark Aliff and Members of City Council
CC: Mayor Heather Graham
VIA: Marisa Stoller, City Clerk
FROM: Danny Nunn, Director of Finance
SUBJECT: AN ORDINANCE APPROVING GRANT AMENDMENT NO 3 WITH THE
CITIES FOR FINANCIAL EMPOWERMENT FUND, INC. FOR THE
FINANCIAL EMPOWERMENT CENTER (FEC) IMPLEMENTATION
GRANT PROGRAM, AUTHORIZING THE MAYOR TO SIGN THE GRANT
AMENDMENT, ACCEPTING ADDITIONAL GRANT FUNDS IN THE
AMOUNT OF $50,000, AND BUDGETING AND APPROPRIATING THE
ADDITIONAL GRANT FUNDS OF $50,000 INTO PROJECT CI2315
SUMMARY:
This Ordinance approves the 3rd amendment of a grant agreement between the City of
Pueblo, a Colorado Municipal Corporation and the Cities for Financial Empowerment
Fund, Inc relating to the Financial Empowerment Center, and budgets and appropriates
funds in the amount of $50,000.
PREVIOUS COUNCIL ACTION:
Ordinance 10388 established the Financial Empowerment Center grant program,
approved a grant agreement between the City of Pueblo and The Cities for Financial
Empowerment Fund, Inc, and budgeted and appropriated $200,000.
BACKGROUND:
The Cities for Financial Empowerment Fund will provide an additional $50,000 to support
into the FEC model and for general FEC operations. The Pueblo Financial Empowerment
Center launched in October 2023 and provides no-cost, individualized, professional
financial counseling and coaching to anyone in the City of Pueblo, and surrounding
counties, regardless of household income or immigration status. Services are available
at co-locations across the community and are confidential. Counseling sessions are
provided in-person or remotely and are currently available in English and Spanish. The
City of Pueblo selected United Way of Pueblo County as the Financial Counseling
Provider to deliver services to individuals.
increasing credit, decreasing debt, and building savings. This grant would allow the
known as asset protection. Legacy Planning is the process of putting a formal plan in
n they die, but it might also
refer to a plan for managing financial healthcare decisions if an individual becomes
disabled. This might include: protecting assets like a house or property, vehicle, bank
accounts, jewelry, sentimental and family heirlooms, or even pets; naming who will care
for children; and ensuring loved ones can manage funeral arrangements. In addition,
clients will gain access to complete a will-
selected online will-generation software.
The Pueblo FEC helps clients to reduce the costs of legacy planning to work towards
other goals. A power of attorney, health proxy and living will, can reduce medical costs.
Insurance and other elements of a plan can cover or reduce funeral costs. After death,
named beneficiaries, deed transfers and other tools can help a client to avoid probate
costs. Trusts, deed transfers and other tools can protect assets from Medicaid recovery.
Pueblo FEC Financial Counselors are the appropriate, trusted messenger to start this
conversation with clients.
FINANCIAL IMPLICATIONS:
Matching funds are not required as part of this amendment.
BOARD/COMMISSION RECOMMENDATION:
None.
STAKEHOLDER PROCESS:
None.
ALTERNATIVES:
Denial of this Ordinance would deny the additional funding from Cities for Financial
Empowerment Fund, Inc
RECOMMENDATION:
Approve the Ordinance
ATTACHMENTS:
1. Third Amendment - FEC Implementation - City of Pueblo - LP (003)
2. Ex. J - FEC Public Outcome Definitions and Calculations 2025
3. Ex. L - FEC Code of Ethics and Professional Practices (003)
ORDINANCE NO. 10965
AN ORDINANCE APPROVING GRANT AMENDMENT NO 3 WITH
THE CITIES FOR FINANCIAL EMPOWERMENT FUND, INC. FOR
THE FINANCIAL EMPOWERMENT CENTER (FEC)
IMPLEMENTATION GRANT PROGRAM, AUTHORIZING THE
MAYOR TO SIGN THE GRANT AMENDMENT, ACCEPTING
ADDITIONAL GRANT FUNDS IN THE AMOUNT OF $50,000,
AND BUDGETING AND APPROPRIATING THE ADDITIONAL
GRANT FUNDS OF $50,000 INTO PROJECT CI2315
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Amendment No. 3 to the Cities for Financial Empowerment Fund grant agreement
between the City of Pueblo, a Colorado Municipal Corporation, and Cities for Financial
Empowerment Fund, Inc, a copy of which is attached, having been approved as to form by the
City Attorney, is hereby approved.
SECTION 2.
The Mayor is authorized to execute and deliver Amendment No. 3 in the name of the City
of Pueblo and the City Clerk is directed to affix the seal of the City thereto and attest the same.
SECTION 3.
Additional Funds in the amount of $50,000.00 are hereby budgeted and appropriated into
Project CI2315 - FEC Implementation Grant.
SECTION 4.
The officers of the City are authorized to perform any and all acts consistent with this
Ordinance to implement the policies and procedures described herein.
SECTION 5.
This Ordinance shall become effective on the date of final action by the Mayor and City
Council.
Action by City Council:
Introduced and initial adoption of Ordinance by City Council on May 27, 2025.
Final adoption of Ordinance by City Council on June 9, 2025.
____________________________
President of City Council
Action by the Mayor:
Approved on _______________.
Disapproved on ______________ based on the following objections:
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
____________________________
Mayor
Action by City Council After Disapproval by the Mayor:
Council did not act to override the Mayor's veto.
Ordinance re-adopted on a vote of ____________, on _____________
____________________________
President of City Council
ATTEST
________________________________
City Clerk