Laserfiche WebLink
Southeast Quality of Life <br />Strategic Neighborhood Action Plan <br />of their future; residents must take actions always looking toward that future, <br />Residents also must understand the need for long term asset accumulation. <br />• Individual Development Accounts for Education <br />An Individual Development Account (IDA) for Education would be an account <br />for young, school age residents of the neighborhood to encourage them to save <br />and focus toward the long term goal of education. Deposits made by the youth <br />would be matched by the neighborhood through a variety of sources. <br />Ideally, Studebaker Elementary and Riley High School would be partners in this <br />project and would work education and information about the accounts into their <br />school curriculum. Financial planning and personal economics would become a <br />part of the school curriculum. Planning for the use of the IDA would also serve <br />as a mechanism for developing a future orientation. Specific planning skills and <br />planning exercises would be built around each student's IDA. For IDA <br />participants, this exercise would involve real funds and real plans; therefore, the <br />learning process would be meaningful in a way that no traditional economics <br />course or personal finance course could ever be. In addition, school sponsored <br />projects oriented toward developing funds for deposit might be arranged. <br />IDA Accounts would be set up for long term educational goals only. Withdrawal <br />of funds for other purposes would forfeit the match and any earned interest. <br />Forfeited match and interest would return to the match fund for other <br />depositors. <br />Other partners that may be interested in participating by accumulating the <br />match fund or participating in asset accumulation strategies for the youth, may <br />include the Urban Enterprise Association, which has already expressed interest <br />in this concept, local businesses, foundations, and civic groups. <br />4. Community Based Economic Enterprises <br />Strategies for the long term health of SEQL and its support of the neighborhood <br />may also be based in a future orientation and asset accumulation through <br />community based economic enterprises. The neighborhood priorities expressed <br />in the neighborhood meetings of local control, reducing imports, neighborhood <br />employment, and better use of local resources all point to a very different <br />62 <br />