Agenda Item Description
Authorize the (1) acceptance of the Municipal Bond Markets & Racial Equity Technical Assistance and Grant from the Public Finance Initiative, in partnership with PFM Financial Advisors, PFM Consulting Group LLC, The Government Alliance on Race & Equity, and other national partners, which was launched with the support of the Robert Wood Johnson Foundation in partnership with Third Sector New England, a 501c3 organization, in the amount of $50,000.00 to develop an equity-driven selection framework to recommend an increase of future bonds allocations in the following grant payment structure: 50% of the grant will be paid immediately upon execution of the grant agreement, expected to be no later than July 15, 2023; and 50% will be paid no later than October 30, 2023; (2) receipt and deposit of funds in an amount not to exceed $50,000.00 in the Municipal Bond Markets & Racial Equity Grant Fund; (3) establishment of appropriations in amount not to exceed $50,000.00 in the Municipal Bond Markets & Racial Equity Grant Fund; and (4) execution of the grant agreement with Public Finance Initiative, in partnership with PFM Financial Advisors, PFM Consulting Group LLC, The Government Alliance on Race & Equity, and other national partners , and all terms, conditions, and documents required by the grant agreement - Not to exceed $50,000.00 - Financing: Municipal Bond Markets & Racial Equity Grant Funds
