The City of Birmingham has opened the way for 36 potential homeowners or future business owners to achieve their dreams through an Individual Development Account (IDA). It’s a special savings program administered by United Way of Central Alabama that allows qualifying individuals to save up to $2,000 of earned income that is matched with $4,000 (for a total of $6,000) that can be used for a home or new business. Mayor William Bell presented a check for $86,500 at Tuesday’s City Council Meeting to Samuetta Nesbitt, Senior VP Public Relations, Karla Lawrence, Senior VP Community Initiatives and Trish Hoover, VP Development/Initiatives of United Way.
The city’s matching funds investment, coordinated by John Colón, Director Community Development and Kwani Carson, Assistant to Mayor William Bell, will assist Birmingham residents in acquiring a lasting asset. The IDA program is part of Assets for Independence, a federal program administered by the Office of Community Services of the US Department of Health & Human Services. United Way of Central Alabama serves as an administrator for the IDA program. To get started on fulfilling your dream, go to www.uwca.org/ida and learn more.