Title
Retroactive Authorization to Apply for, Accept and Disburse Grant Funding from JPMorgan Chase & Co. (Ordinance S-49735)
Description
Request to retroactively authorize the City Manager, or his designee, to apply for and accept JPMorgan Chase & Co. grant funds totaling $125,000. Further request authorization to enter into an agreement with the Phoenix Parks Foundation to serve as the fiscal agent to receive these funds. Additionally, request to authorize the City Treasurer to accept, and the City Controller to disburse, all funds related to this item for the life of the grant.
Report
Summary
Since 2013, the City of Phoenix Youth Reach and Invest in Summer Employment (Phoenix Youth RISE) program has placed more than 902 youth between the ages of 16 to 24 in summer work experiences. The program provides subsidized wages for youth to work up to 80 hours with an employer during the summer and includes work readiness training, career exploration and mentorship. For the summer of 2022, Phoenix Youth RISE placed 180 qualified youth applicants in paid internships due to increased philanthropic support.
On Feb. 15, 2023, JPMorgan Chase & Co. announced a grant opportunity to partner with U.S. cities to increase the number of youth who have access to quality summer work experiences to place youth on a path to greater economic mobility. To be a recipient of the funds, JPMorgan Chase & Co. requires that a Memorandum of Understanding (MOU) be executed with a 501(c)3 nonprofit partner that agrees to serve as the applicant and fiscal agent for the grant. The Human Services Department has an executed MOU with Phoenix Parks Foundation to serve as Fiscal Agent.
If awarded, the available grant of $125,000 will support summer work experiences for up to 75 youth. The cost per youth is approximately $1,656, including the cost of wages, interest and skill assessments, training, mentoring and supportive services. The grant application was due on April 10, 2023. If authorization is denied, the grant application will be rescinded.
Contract Term
The grant period is on or about May 1, 2023, through June 30, 2024.
Financial Impact
There is no impact to the General Fund. Funding will be provided by JPMorgan Chase & Co. No matching funds are required.
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Human Services Department.