Aurora is looking to accept a $10,000 grant from Old National Bank for the Financial Empowerment Center in the city.
Aldermen put acceptance of the grant on the consent agenda for next week’s regular City Council meeting, meaning it is likely to be approved.
The money would toward the Financial Empowerment Center, which is largely funded by donations.
The center began in 2019 with grant funds. It provides free, one-to-one financial counseling, delivered by professionally trained counselors, to low- and moderate-income residents.
The Aurora center was successful in its first three years. The city of Aurora has maintained a contract with The Neighbor Project, with an annual extension through 2024, to continue to provide financial counseling to the community there to improve the quality of life of Aurora area residents.
The contract for 2024, paid to The Neighbor Project, is not to exceed $315,400.
City officials have said there is a growing need for financial counseling services, especially for residents that need to secure permanent housing, pay for increased household costs, secure their children’s college savings and to improve their financial stability.
The Aurora center has expanded its services to include an additional counselor and a part-time administrative assistant through The Neighbor Project.
It has served 2,085 clients, had 2,417 outcomes, helped clients increase savings by more than $1.15 million and reduced debt by about $3.5 million, officials said.
slord@tribpub.com
