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Grants and Technical Assistance to USA City and County Governments
to Address Racial Wealth Equity and Build Financial Stability

CityStart

Agency Type:

Foundation / Corporation

Funding Source:

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Cities for Financial Empowerment (CFE) Fund and Bloomberg Philanthropies

Conf. Date:

01/12/22

Deadline Date:

01/24/22

Description:

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Grants of $75,000 and technical assistance to USA city and county governments to address racial wealth equity and build individual and community financial stability. Preference will be given to applications from cities and counties with significant Black populations and to Black-majority city and county partners.

The Cities for Financial Empowerment Fund (CFE Fund), is requesting applications from local governments looking to develop a municipal financial empowerment blueprint, outlining strategies for financial empowerment programs and policies based on stakeholder and community input and with a focus on racial wealth equity. The CFE Fund will work closely with the Bloomberg Philanthropies’ Greenwood Initiative, an ambitious nationwide program that seeks to accelerate intergenerational Black wealth and address systemic underinvestment in Black communities, and other partners to identify strategies to address the racial wealth and assets inequities, facilitate intergenerational wealth transfer, and build resident, family, and community financial stability.

With support from Bloomberg Philanthropies, in this equity-focused iteration of CityStart, the CFE Fund will look to work with Black-majority city and county partners, as well as cities and counties with significant Black populations, to address the financial empowerment needs of residents and the opportunities to meet those needs, prioritizing the financial stability needs of Black residents. Selected partners will identify strategies to launch and increase access to financial stability programs, identify the intersecting issues leading to disparities and barriers to financial empowerment, and explore investments to further financial stability work.

Components of the engagement include:

  • CityStart University: Grantees will participate in a series of learning community events, facilitated by the CFE Fund,at the start of the engagement.
  • Financial Empowerment and Racial Wealth Equity Landscape Analysis: The CFE Fund will work with each locality to develop a comprehensive landscape analysis, which includes identifying key stakeholders, understanding the government structure and Administration goals, assessing financial empowerment issues both overall and for Black residents, and reviewing related data.
  • Financial Empowerment Strategies & Blueprint: Based on findings from the landscape analysis and stakeholder engagement phase, each locality will work with the CFE Fund on developing a municipal financial empowerment blueprint focused on key local needs and priorities.
  • Learning Community: Local government grantees will participate in learning community activities to share best practices and lessons learned with fellow grantees. 

GrantWatch ID#:

GrantWatch ID#: 200670

Estimated Size of Grant:

Grantees will receive funding of $75,000, and significant technical assistance to develop and publicly launch an actionable blueprint outlining local financial empowerment strategies (e.g., financial education and counseling, asset building, access to banking, and consumer financial protection) and opportunities for broader systems investments to further equitable financial stability and address racial wealth equity.

Term of Contract:

The CFE anticipates a nine-month engagement, with the following timeline.
• February 2022: Start of grant and cohort orientation session
• February to March 2022: CityStart University, landscape analysis and stakeholder engagement
• March to July 2022: Blueprint development
• August 2022 to October 2022: Final blueprint release. Please note strategies can be launched/announced on a rolling basis.

Additional Eligibility Criteria:

Grantee Eligibility:
• Cities or Counties with 50,000 or more residents are eligible to apply.
- Preference will be given to Black-majority city and county partners, as well as cities and counties with significant Black populations.
• Only city or county governments can apply.
- The application should be from the Mayor’s or City Manager’s office; County Executive’s office; or from any agency/department (with the approval of senior leadership) working on relevant financial empowerment issues.
- This engagement is ideal for cities and counties who are seeking to prioritize resident financial stability needs, based on a racial wealth equity lens, informed by stakeholder input, and committed to creating an actionable strategic plan.

Pre-proposal Conference:

The CFE Fund will host an informational webinar about the CityStart opportunity on January 12, 2022.

To Register: https://cfefund-org.zoom.us/webinar/register/WN_EWRjmUiITyGRpIMu9YVqHw

Pre-Application Information:

Important dates:
• Application release date: December 6, 2021
• RFP Informational Webinars: December 15, 2021, January 12, 2022
• Proposal submission due date: January 24, 2022
• Applicant Interviews: January 31 - February 11, 2022
• Notification of selection: Late February 2022

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Apply Online: https://www.grantinterface.com/Process/Apply?urlkey=CitiesFE

Please direct any questions to Tamara Lindsay, Chief of Strategy, (tlindsay@cfefund.org).

Cities for Financial Empowerment Fund
44 Wall Street, Suite 1050
New York, NY 10005
646.362.1638

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

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