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47 <br /> FINANCIAL EMPOWERMENT <br /> In February 2023,the City published a Financial <br /> Empowerment Blueprint, a document that outlines > <br /> the City's strategy to help build wealth and improve <br /> finances for South Bend residents, specifically focusing <br /> on racial wealth equity.The Blueprint culminated a <br /> year-plus planning process that included quantitative t <br /> Financial Empowerment <br /> analysis on racial wealth trends in South Bend, eight <br /> engagement opportunities and over two thousand Blueprint <br /> online and in-person points of contact with residents, <br /> and the creation of a Financial Empowerment Action <br /> Plan outlining short-, mid-, and long-term priorities to <br /> imbue financial empowerment into municipal services. Wit <br /> The hallmark of the Financial Empowerment Blueprint <br /> is the creation of the Financial Empowerment Center <br /> (FEC). Located in the new MLK Dream Center when <br /> completed,the Financial Empowerment Center will <br /> offer no-cost professional 1-1 financial counseling <br /> to South Bend residents. The City of South Bend's <br /> Financial Empowerment Center will be the first FEC <br /> launched in the state of Indiana. As the Financial <br /> Empowerment Centers gears toward launching, <br /> several activities have taken place to prepare for the <br /> FEC opening, including: Filed in Clerk's Office <br /> • Hosting a site visit for the Cities for Financial <br /> Empowerment Fund with local service providers, <br /> Bianca Tiridio <br /> community leaders, and City leadership to discuss City Clerk, Soutli Build, IN <br /> the formation of the FEC; <br /> • Communicating and engaging with several social <br /> service providers in South Bend on integrating <br /> financial counseling into their services and <br /> collaborating with the FEC; <br /> • Researching successful FECs across the United <br /> States; <br /> • Receiving $350,000 from the Redevelopment <br /> Commission to support the first two years of <br /> operations for the FEC (obtained in 2024); and <br /> • Releasing an RFP seeking the FEC's nonprofit <br /> financial counseling provider(released in 2024). <br /> GROWTH &OPPORTUNITY ANNUAL REPORT 2023 <br />