The City of St. Paul, along with the Cities for Financial Empowerment Fund (CFE Fund) announced their selection as one of 10 cities to receive a planning grant and technical assistance to identify and plan for local municipal financial empowerment strategic priorities.
The CFE Fund’s CityStart initiative offers mayors and their administrations a structured approach to identify financial empowerment goals, convene stakeholders for sustainable success, develop concrete strategies, and ultimately craft an actionable blueprint rooted in local priorities and opportunities. St. Paul will receive an intensive six- to nine-month technical assistance engagement partnership, along with a $20,000 planning grant.
“To build a city that truly works for all of us, our residents must have access to the tools and resources they need to make their money work for them,” said St. Paul Mayor Melvin Carter. “I’m excited about our partnership with the CFE Fund to initiate St. Paul’s first Financial Empowerment Bootcamp, which will jumpstart the development of our future Office of Financial Empowerment.”
“Cities control a host of policies, programs, and funding streams that can transform the lives of residents with low incomes on a large scale. 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,” said Jonathan Mintz, president and Chief Executive Officer of the Cities for Financial Empowerment Fund.
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. The mayor’s office, working with the CFE Fund, will construct and then host a day-long municipal financial empowerment "boot camp" event that brings together local constituencies, including cross-sector, public, private, and non-profit organizations. Based on issues identified in the boot camp, St. Paul will craft its municipal financial empowerment blueprint identifying actionable implementation steps. CityStart cities have historically leveraged their engagement with the CFE Fund to further their commitment to this work.