Gainesville selected for Emergency Financial Empowerment initiative

Gainesville selected for Emergency Financial Empowerment initiative

Published on November 07, 2024

Cities for Financial Empowerment Fund (CFE Fund), a national nonprofit organization, has selected the City of Gainesville as one of the first cities to take part in its Emergency Financial Empowerment (EFE) initiative.

Through the EFE initiative, the city will be able to help residents affected by natural disasters better identify and access financial relief resources.

"We too often think of emergency preparation and response in terms of physical damage and leave unattended the financial consequences of these events," said Gainesville Mayor Harvey Ward. "The holistic approach offered by the CFE Fund enables us to work with our underserved neighbors to help them better prepare a broad emergency plan. I am delighted Gainesville can participate in this program," he said.

Natural and man-made disasters can impact families through unexpected expenses, loss of income and other financial strains. These, in turn, can lead to long-term financial consequences, especially for underserved communities.

Through the EFE initiative, the city will receive technical assistance to build and expand its emergency infrastructure and help area neighbors navigate financial support resources.

"The CFE Fund is thrilled to work together with local governments and incorporate the array of public and community financial empowerment resources to support individual and family finances for emergencies," said Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund.

The CFE Fund engagement will be supported by a $150,000 grant to the City of Gainesville from Bloomberg Philanthropies as part of their Greenwood Initiative, a philanthropic effort that aims to accelerate the pace of wealth accumulation for Black individuals and families and address systemic underinvestment in Black communities.

"Thanks to generous support from Bloomberg Philanthropies' Greenwood Initiative, this new Emergency Financial Empowerment initiative will help Gainesville residents better prepare for and recover from unexpected disasters," said Mintz.

The EFE initiative represents a new partnership between emergency management and financial empowerment. The collaboration will help ensure residents can access supportive resources, including those zip codes and populations that may have been disconnected from city services and thus more vulnerable to the impacts of disasters.

"This burden has a greater effect on the most vulnerable families," said Garnesha Ezediaro, who leads Bloomberg Philanthropies' Greenwood Initiative. "That's why local strategies to combat disaster-induced financial inequity are so critical."

Fellow cities selected by the CFE Fund include Dallas, TX; Rochester, NY; St. Louis, MO; and Saint Paul, MN.

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