HomeMy WebLinkAboutCouncil Presentation 06-22-2021: ARPA PresentationAmerican Rescue
Plan Funding (ARPA)
Yiannis Kalaitzidis, Finance Director
8/11/2021
ARPA Funding Availability
•Estimated at $16,375,046
•Payable in 2 tranches
•Initial payment available now
•Second payment no sooner than 12 months after first
•Must be obligated by December, 2024
•Must be spent by December, 2026
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Eligible Uses*
•Respond to the public health emergency or its negative
economic impacts, including assistance to households, small
businesses, and nonprofits or aid to impacted industries such as
tourism, travel, and hospitality
•Provide premium pay to eligible workers
•Recover lost revenues to the Town
•Make investments in water, sewer, or broadband infrastructure
3*Rules/Regulations not final yet
Prohibited Uses
•Depositing funds into any pension fund
•Directly or indirectly offset a reduction in the net tax
revenue of a State or territory resulting from a change in
law, regulation, or administrative interpretation
•Other –making debt service payments on existing debt
4
Receiving the Funding
•Process administered through State (similar to AZCares)
•Submit application to State website
•State confirms certain eligibility criteria
•Town receives 1st round of funding
•Annual Reporting due by October 31
5
Council Action
•Adopt resolution 2021-100
•Authorize Town Manager to execute agreement
•Award Terms and Conditions
•Title VI Assurances
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QUESTIONS/DISCUSSION