The Cities for Financial Empowerment Fund announced the City of El Paso will receive the $20,000 CityStart initiative planning grant to identify and plan for financial empowerment strategic priorities.
”The City of El Paso is committed to creating an environment supportive of financial stability for the most vulnerable in our community,” stated Director of Community + Human Development and Chief Resilience Officer Nicole Ferrini.
“Currently we are pursuing key actions that improve citizen access to basic services and increase availability of affordable housing while expanding both educational and economic opportunity. The CityStart initiative will help us help El Pasoans achieve their goals and realize their dreams.”
The City of El Paso, working with the CFE Fund, will construct and host a day-long municipal financial empowerment “boot camp” aimed at financially empowering residents.
Based on issues identified in the boot camp, El Paso will craft its municipal financial empowerment blueprint identifying actionable implementation steps.
“Cities control a host of policies, programs, and funding streams that can transform the lives of residents with low incomes on a large scale,” said President and Chief Executive Officer of the Cities for Financial Empowerment Fund Jonathan Mintz.
“Across the nation, more and more city leaders are embracing high-quality financial empowerment programs to improve the financial stability of their city residents and communities. We congratulate Mayor Dee Margo and look forward to working with him to empower El Paso residents, and we thank JPMorgan Chase for their longstanding commitment to and investment in municipal financial empowerment.”
The CityStart initiative, with support from JPMorgan Chase and others, offers mayors and their administrations a structured approach to identify financial empowerment goals, organize stakeholders for sustainable success, develop concrete strategies, and ultimately create a blueprint that includes local priorities and opportunities.
The CityStart initiative draws on the CFE Fund’s extensive programmatic work with local government leaders in over 60 cities, connecting critical on-the-ground insights about the impact of financial instability on families, communities, and municipal budgets with tangible, measurable, and sustainable municipal strategies to improve families’ financial lives.