Item - 2018.ED31.8

The Economic Development Committee recommends that:

1. City Council grant authority to the General Manager, Toronto Employment and Social Services and the General Manager, Children's Services to receive and allocate funds from the Government of Canada (e.g. Economic and Social Development Canada’s Social Development Partnerships Program – Children and Families), or other third parties, for the purpose of implementing measures to increase awareness and take-up of the Canada Learning Bond (CLB) among low income families in Toronto.

2. City Council grant authority to the General Manager, Toronto Employment and Social Services and the General Manager, Children's Services to execute on behalf of the City funding and/or service agreements with the Government of Canada, SmartSAVER, Prosper Canada or other third parties with respect to Canada Learning Bond promotion, which shall contain terms and conditions satisfactory to the General Manager, Toronto Employment and Social Services and the General Manager, Children's Services and be in a form satisfactory to the City Solicitor.

This report seeks authority for Toronto Employment and Social Services (TESS) and Toronto Children's Services (TCS) to enter into agreements with and receive funding from the Government of Canada (up to $1.5M over three years) or other third parties to implement measures to increase awareness and take-up of the Canada Learning Bond (CLB) -- an education savings grant of up to $2000 per child -- for low-income children in Toronto.

In January 2018, TESS and TCS applied for funding through a Call for Concepts grant process managed by Economic and Social Development Canada (ESDC). Through this process, the Government of Canada seeks to increase the awareness and the take-up of the CLB across the country, particularly among underrepresented, hard-to-reach and vulnerable segments of the population who face barriers to accessing this important source of funding for post-secondary education. A response to the City's application for funding has not yet been received but is expected shortly.

By partnering with SmartSAVER and Prosper Canada, two of Canada's most innovative non-profit financial empowerment organizations, the CLB promotion and take-up activities proposed by TESS and TCS have significant potential to improve CLB benefit access, advance poverty reduction, strengthen inter-sectoral and inter-governmental relationships, and inform evidence-based policy making and programming.