Fiscal Note
The proposed resolution accepts Dave Grace & Associates as the selected vendor for the Community Development Division’s (CDD) Children’s Savings Account consultant request for proposals (RFP) and authorizes CDD to enter into a contract with Dave Grace & Associates beginning June 1, 2018. Dave Grace & Associates will provide the designated services for $27,625, as authorized and funded by the 2018 Adopted Operating Budget. The contract term will be June 1, 2018 until December 31, 2018.
Title
Accepting the Community Development Division’s (CDD) selection of Dave Grace & Associates as the vendor for the Children’s Savings Account Consultant beginning June 1, 2018 in the amount of $27,625 as a result of a competitive RFP process conducted by CDD in consultation with staff from CDD, the Madison Metropolitan School District and a member of the Common Council; and authorizing the Mayor and the City Clerk to enter into agreements with those agencies to implement the designated programs and services.
Body
WHEREAS, research shows that children from low to moderate income households with Children’s Savings Accounts (CSAs) are three times more likely to attend college and four times more likely to graduate from college; and
WHEREAS, having a CSA fosters a college-bound identity in children; and
WHEREAS, as of May 2017, more than 313,000 children have CSAs in 49 programs across 31 states and the District of Columbia; and
WHEREAS, the Community Development Division (CDD), is responsible for formulating recommendations to the Mayor and Common Council regarding the use of City administered resources budgeted for enhancing the health and quality of life in Madison's neighborhoods for the elderly, youth and families; and
WHEREAS, over the past two years, Alder Maurice Cheeks has worked in partnership with Madison Metropolitan School District, the Foundation for Madison Public Schools, Summit Credit Union, and other public, private and philanthropic partners to d...
Click here for full text