Oregon Individual Development Account (IDA) Initiative Announces Supplemental Request for Proposals (RFP)

The Oregon IDA Initiative, a project of Neighborhood Partnerships (NP) in conjunction with Oregon Housing and Community Services (OHCS), is pleased to announce a supplemental 2011 Request for Proposals for innovative applications to provide IDAs to underserved communities in Oregon.  Approximately $1 million will be awarded to competitive applicants in grant amounts ranging from $100,000 to $250,000.

Since legislation creating the Oregon IDA Initiative was passed in 1999, IDAs have had a tremendous impact on the lives of Oregonians.  Over 1900 Oregonians around the state have successfully completed the IDA program of financial education, setting financial goals, saving and ultimately receiving a match to purchase their choice of asset—a home, a business or an education.

We want to broaden this pathway to prosperity by encouraging efforts to reach more underserved areas and people in Oregon.  While many counties have Oregonians who have opened IDAs or graduated from the program, we are seeking to broaden the impact of IDAs in communities where there have been fewer accounts and graduates across the state.

NP seeks innovative proposals that will use IDAs to effectively reach and support the success of underserved communities.  Strategies designed to help participants succeed—financial education, coaching, retention, case management and specialized education—will be priorities in reviewing applications.  We will also be looking for innovations that advance the asset-building field, and proposals that maximize the use of resources.

Because we are encouraging collaborative proposals, applicants have three months to complete the Request for Proposals.  Proposals will be due by 5 PM on September 1, 2011.  NP will be reviewing the proposals and making the awards in conjunction with Oregon Housing and Community Services.

Interested parties are encouraged to attend one or more information sessions which will be offered June 8, 9 and 15.  For information about applying and times and locations of the information sessions, please visit the RFP page or contact Joy Garlin Hunt at 503 226-3001 x102 or jhunt@neighborhoodpartnerships.org.

Posted in IDA, News.