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Southeast Quality of Life <br />Strategic Neighborhood Action Plan <br />Barriers: <br />income/asset limitation for those on public assistance <br />lack of future orientation of parents <br />difficulty in incorporating IDA into school curriculum <br />no federal tax deferral as with IRA <br />difficulty in attracting match for long-term project <br />cost of small accounts at banks <br />Action Steps: <br />1. Develop project proposal for discussion purposes with schools and banks. <br />(a) Overview of problem: need for future orientation and asset <br />accumulation <br />(b) IDA concept <br />(c) Role of partners in the project ie... schools, banks, parents, donors <br />(d) Incorporating IDA into the school curriculum <br />(e) Special projects for students to make money to save <br />(f) Attracting the match <br />2. Create an IDA Task Force which will become the IDA Advisory Board upon <br />implementation of the project including representation from: SEQL, <br />Studebaker, Riley, banks, parents, teachers, initial major donor (if known). <br />The Advisory Board will oversee the development of the accounts, approve <br />expenditures for special education projects designed by teachers that <br />demonstrate the concept of saving for elementary age students, develop <br />funds for match, and approve the expenditure of matching funds for <br />educational purposes after graduation or leaving school. <br />3. Work with participating bank(s) to develop special accounts, reduce fees, <br />create account safeguards, and establish youth/small account friendly <br />banking policies. <br />4. Work with teachers to incorporate IDA discussions into curriculum with <br />special projects appropriate to each age group. <br />5. Facilitate parent/school/civic projects for students to make money to save <br />ie... in school concessions for special events, recycling, vacant lot clean-up. <br />