Mayor Domenic J. Sarno and Chief Development Officer (CDO) Tim Sheehan along with the national nonprofit Cities for Financial Empowerment (CFE Fund), announced today that Springfield has been selected to participate in the CityStart initiative. This initiative, which will run through August 2026, works closely with local leaders to develop and implement proven strategies aimed at helping families and communities become more financially stable.
“The CityStart grant is a major step forward in my administration’s mission to enhance financial empowerment opportunities for Springfield residents,” said Mayor Domenic J. Sarno. “This funding will help us create a sustainable plan to improve economic mobility and financial literacy for our community. I want to thank the Cities for Financial Empowerment Fund for their support in making this possible.”
“Across the country, leaders are using the levers of local government to deploy financial empowerment strategies that improve their residents’ financial stability. Our CityStart initiative provides a platform for deep engagement between governments, residents, and other critical partners to create a community-informed plan for transforming residents’ financial lives,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “We look forward to working with Mayor Sarno to advance financial empowerment and wealth opportunities in the City of Springfield.”
“Financial empowerment is a critical component of building a strong and resilient community,” said Tim Sheehan, Chief Development Officer. “With the support of the CityStart grant, Springfield will be able to develop targeted strategies that directly address the financial challenges faced by our residents, particularly in the Mason Square neighborhood.”
CityStart is a national initiative designed to help local governments identify and plan strategic approaches to improving residents’ financial stability. In Springfield, this initiative will be focused on the Mason Square neighborhood, ensuring that residents have greater access to financial resources and opportunities for economic growth, with a specific focus on improving wealth equity for the Black community. Through this grant, Springfield will receive technical guidance from the CFE Fund to develop programs that focus on enhancing economic opportunities, increasing access to financial education, and promoting long-term financial resilience. The initiative is expected to lead to the development of policies and programs that will integrate financial empowerment into city services.
Through the CityStart initiative, Springfield will receive intensive technical assistance, along with a $100,000 planning grant. The CFE Fund will partner with Springfield to help craft an innovative, actionable blueprint tailored to local needs that fosters financial stability across generations. In addition, the blueprints will be aligned with and serve to support city priorities and partnership opportunities. These funds will support a range of activities, including research, planning, and stakeholder engagement to ensure that the city’s financial empowerment initiatives align with community needs.
Springfield’s participation in the CityStart program will involve collaboration with key local organizations, policymakers, and financial experts to develop a comprehensive framework for financial empowerment. This initiative aligns with ongoing efforts by the Office of Planning and Economic Development and the Transformative Development Initiative to strengthen economic opportunities for all residents, with a particular emphasis on advancing wealth equity for the Black community in Mason Square.
In addition to Springfield, MA other selected cities and counties chosen through the competitive process to participate in CityStart include Kansas City, MO; Memphis, TN; Milwaukee County, WI; Savannah, GA; St. Petersburg, FL.
Local leaders can also learn from and alongside other cohort partners and from previous cohorts across the country through opportunities including idea exchanges, sharing of data collection strategies, and comparing information regarding local policies and programs to address mutual challenges.
The City of Springfield, MA is part of the seventh CityStart cohort. To date, 44 localities have participated in the CityStart financial empowerment blueprint process. Drawing on over a decade of CFE Fund work in nearly 150 cities and counties, the CityStart initiative leverages insights into financial instability impact, crafting measurable strategies to enhance residents’ financial well-being.