The endowment fund known as the "social opportunity endowment fund" is hereby created and referred to in this chapter as the "fund."
(Ord. 1790 § 1, 2006)
The purpose of the fund is to provide a long-term, stable funding source for the delivery of quality human services to low income city residents.
The primary goal of the fund is to maximize the efficient and cost-effective delivery of human services and to facilitate collaborative efforts and a coordinated approach to improve and expand the delivery of quality human services to low income residents in the City.
The fund is intended to be similar to an endowment whereby the balance of the fund is grown so that the interest earnings will provide a stable source of revenue in addition to slowly drawing down the principal to support the delivery of human services in the City.
(Ord. 1790 § 1, 2006; Ord. 2065 § 1(A), 2018; Ord. 2180, 10/13/2025)
The following words and phrases as used in this chapter shall have the following meanings:
A. "Human services"
shall mean a broad range and intricate variety of programs, projects and activities designed to protect, improve and restore the personal welfare and well-being of residents of all ages and the social health of the community. By way of example, typical human services include, but are not limited to, social services, shelter, economic support, employment and training, education, health and protective services.
B. "Low income person"
shall mean a person having an annual income of not more than 80 percent of the median income for the Oakland Standard Metropolitan Statistical Area as defined by the U.S. Department of Labor and U.S. Department of Housing and Urban Development for a family of similar size as determined in accordance with the Housing and Community Development Act of 1974, as amended.
(Ord. 1790 § 1, 2006)
A.
The housing and human services division shall administer the operation of the fund, process applications for awards from the fund, and oversee the use of awards from the fund consistent with this chapter and the plan adopted by City Council resolution.
B.
The Human Services Commission shall evaluate applications for awards from the fund and make recommendations to the City Council regarding the applications. The commission shall also render written reports to the City Council detailing the activities of the fund not less than once a year and at such other times as requested by the City Council.
C.
The fund shall be interest-bearing. The interest accrued on the fund shall be deposited back into the fund. None of the moneys in the fund shall revert to the general fund.
D.
It is intended that the fund shall be financed through contributions from development agreements, reinvestment of interest earned on the balance of the fund, grants, gifts, donations, and other alternative funding sources. However, the City's general fund operating budget may include an annual appropriation for the fund as approved by the City Council based upon recommendations made by the Human Services Commission.
E.
To maintain a consistent source of funding for human services, no more than $150,000 (“Available Award”) may be awarded each fiscal year. The Available Award shall be increased each fiscal year beginning fiscal year 2026/2027 by 3% of the then current total of the Available Award.
The City is not obligated to award the full amount available each fiscal year for award from the fund.
The remaining balance of the fund shall be invested consistent with Government Code Section 53601 and the City's standard practices.
F.
The City Council shall adopt by resolution a plan establishing the policies and procedures for the administration of the fund consistent with this chapter. At a minimum, the plan shall include:
1.
A process for accepting and reviewing applications for awards from the fund.
2.
Criteria to be considered by the Human Services Commission when evaluating applications by eligible agencies and organizations for awards from the fund for qualified programs, projects, and activities.
3.
Administrative requirements to monitor the use of an award including provisions for reporting and invoicing.
4.
Procedures and requirements for the actual delivery and use of an award.
(Ord. 1790 § 1, 2006; Ord. 2065 § 1(A), 2018; Ord. 2180, 10/13/2025)
A.
Only public agencies and community-based organizations that have a 501(c)(3) status shall be eligible to apply for an award from the fund.
B.
Only programs, projects, or activities that primarily benefit low income persons and are consistent with the policies set forth in this chapter and the plan adopted by City Council resolution shall be qualified for an award from the fund.
C.
Awards from the fund shall be made only to eligible agencies and organizations for qualified programs, projects, and activities depending to the extent that a need for low income residents is identified in the City's consolidated plan priorities or the human services needs assessment.
D.
Housing and human services staff shall process applications for awards from the fund and present a list of eligible agencies and organizations to the Human Services Commission for qualifying programs, projects, and activities. The Human Services Commission will evaluate and rank the applications based upon the criteria in the Council's resolution and provide a recommendation to the City Council for award from the fund.
E.
The City Council may within its discretion make awards from the fund. The City Council is not obligated to follow the recommendations of the Human Services Commission.
(Ord. 1790 § 1, 2006; Ord. 2065 § 1(A), 2018)