TITLE
Recommendation to authorize City Manager, or designee, to execute a Memorandum of Understanding, and any necessary amendments, with the Long Beach Community Foundation, a California non-profit corporation, to establish and administer a disaster relief fund; and, authorize a one-time initial investment of $2,500 from the General Fund (GF). (Citywide)
DISCUSSION
The Long Beach Community Foundation (LBCF) has been administering charitable funds and fostering philanthropy to benefit the City of Long Beach, local non-profits, and educational institutions for over 20 years. Their 150 charitable funds, totaling $35 million, have created and sustained critical services offered by hundreds of Long Beach organizations, including the Long Beach Library Foundation, YMCA of Greater Long Beach, Long Beach Day Nursery, Long Beach City College, and California State University Long Beach. The LBCF has agreed to work with the Department of Disaster Preparedness and Emergency Communications to establish and administer a disaster relief fund to provide necessary assistance to Long Beach residents from economic hardships resulting from natural and manmade disasters.
The LBCF, through a Memorandum of Understanding (MOU), will create and administer the “Long Beach Disaster Relief Fund (LBDRF)” on a year-round basis providing residents and businesses the opportunity to make donations by cash, check or credit card. Available funds in the LBDRF will be a combination of individual donations and funds derived from an array of investment options managed by the LBCF as part of its $35 million portfolio. The LBCF will provide donors with a receipt for their tax-deductible contributions.
Staff will work with LBCF to establish disbursement criteria so that residents who are victims of county-, state- or federally-declared disasters and lesser disasters, such as the 2015 Downtown Power Outage and the 2006 Paradise Gardens Fire, could also be eligible to benefit from the LBDRF. The cr...
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