Label
Reinvest Toledo
Department of Neighborhoods
Rosalyn Clemens (x3647)
(Revised)
Title
Authorizing an expenditure of an amount not to exceed $35,000 from the General Fund to provide 2020/2021 support for the Reinvest Toledo Initiative; authorizing the mayor to enter into a funding agreement with Reinvest Toledo; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This ordinance authorizes the expenditure of $35,000 to provide 2020/2021 support for Reinvest Toledo, an initiative to enhance and facilitate bank Community Reinvestment Act (CRA) funding in the City of Toledo. Strategic goals for the 2020/2021 year are the buildout of organizational infrastructure, advocacy, and neighborhood leadership development. City of Toledo's support for Reinvest Toledo is matched by a $100,000 grant provided by the Lucas County Land Bank in 2018 that has supported staffing and organizational development. The City of Toledo's support will fund the Executive Director position through June of 2021.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $35,000
- The expenditure budget line item: 1001-16100-5632005STDSTD
- New revenue generated (operational revenue, grants, if any): none
- Revenue budget line item (if any): none
- Are funds budgeted in the current fiscal year (yes/no)? yes
- Is this a capital project (yes/no)? no
- If yes, is it new or existing (new/existing)? N/A
- What section of the City's Strategic Plan does this support:
o Excellence in Basic Services (yes/no) no
o Quality Community Investment (Livable City, Development) (yes/no) yes
o Workplace Culture & Customer Service (yes/no) no
o Environment (yes/no) no
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That an expenditure in the amount of $35,000 is authorized from the General Fund, Account Code 1001-16100-5632005STDSTD, for the purpose of providing 2020/2021 support for the Reinvest Toledo initiative.
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