Title
Authorizing the City to accept $20,250 in grant funding from the Saint Paul & Minnesota Foundation to support direct guaranteed income payments to Saint Paul families in the CollegeBound Boost program.
Body
WHEREAS, the City of Saint Paul’s (the “City”) guaranteed income program, CollegeBound Boost (“Boost”) initially provided monthly payments of $500 to 333 Saint Paul residents enrolled in CollegeBound Saint Paul (the “Participants”) for a period of 24 months; and
WHEREAS, in 2025, the City decided to provide the Participants with a 25th payment of $250 and sent the Participants notice of the additional payment; and
WHEREAS, Mayor Melvin Carter III has launched a private donation campaign (the “Campaign”) in partnership with the Saint Paul & Minnesota Foundation to support Boost and the Campaign has raised $20,250 (the “Funds”) ; and
WHEREAS, the Saint Paul & Minnesota Foundation desires to grant the Funds to the City for the purposes of supporting Boost; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation funds of $20,250 in excess of those dedicated to the Office of Financial Empowerment in 2025; now, therefore, be it
RESOLVED, the City Council hereby:
1. Accepts and receives the Funds from the Saint Paul & Minnesota Foundation to support CollegeBound Boost.
2. Amends the 2025 Office of Financial Empowerment budget as detailed in the attached Financial Analysis.
Financial Analysis
See Attachment.