Experts from the City of Miami, Fla., will share their successes in developing programs that help low- and moderate-income residents keep more of the money they earn to achieve family economic stability at a meeting this week sponsored by the National League of Cities (NLC). Efforts to stop predatory lending and other unfair financial practices will be shared with city officials and staff from five other cities on March 15-16.
Representatives from local universities, nonprofits, and businesses such as H&R Block, and BankUnited will also highlight successful public-private partnerships that can guide asset protection initiatives in other cities. Additionally, the group will be joined by national experts from the Center for Responsible Lending and the Center for the Study of Social Policy.
The meeting, to be held at the John S. and James L. Knight Foundation, is part of the Cities Helping Families Build Assets project led by NLC?s Institute for Youth, Education, and Families (YEF Institute). Municipal leaders, city staff, and community partners will discuss an array of programs offered in Miami that help residents keep more of the money they earn.
?Knowledge empowers. I am very proud of the strides we have made in educating Miamians on the keys to successful asset building and management strategies,? said Miami Mayor Manny Diaz.
Participating in the event will be city representatives from Burlington, Vt; Durham, NC; Milwaukee, Wis; Orlando, Fla; and Seattle, Wash.
Supported through a grant from the Annie E. Casey Foundation, the NLC project is aimed at providing specific technical assistance to nine U.S. cities seeking practical advice to help them develop successful programs that enable families to increase their economic stability through asset-building strategies.
?The leadership of Mayor Diaz in supporting Miami?s asset-building strategies is not only benefiting his constituents at home, but also highlights best practices that cities throughout the nation can adopt to assist their residents,? said Clifford Johnson, executive director of NLC?s YEF Institute.
Johnson continued, ?Low-income families face the dual challenge of struggling to save. At the same time, they are often bombarded by offers of temporary relief that can cause a long-term drain on income. Cities can help families sidestep these pitfalls.?
On March 15, officials will hear about a range of asset-building programs offered in Miami, including Mayor Diaz? Access Miami initiative, which involves programs focused on micro-lending, matched savings, tax preparation and financial services, and financial literacy.
In addition, participants will learn about action steps they can take to protect low-income families against predatory lending practices that involve payday loans and refund anticipation loans. Also, Miami city staff and community partners will discuss the need for financial education in asset protection, public-private partnerships to enhance asset-building programs, and the importance of local leadership and collaboration.
The Miami visit is the fourth in a series of opportunities sponsored by NLC to share strategies, tools, and materials aimed at fostering programs to increase savings and assets among low- and moderate-income populations. Cities participating in the Assets project have also visited Phoenix, Ariz., Baltimore, Md., and Indianapolis, Ind. The project will culminate in a site visit in San Francisco, Calif., in June 2006.
The Assets project is just one way that the National League of Cities works to strengthen America by building stronger cities, towns, and villages. NLC is the oldest and largest national organization for American cities. NLC serves as a resource and advocate for 18,000 cities, towns, and villages which collectively serve 225 million people. Visit www.nlc.org.