CITY OF LAUDERDALE LAKES
Agenda Cover Page Fiscal Impact: Yes Contract Requirement: No Title A DISCUSSION ON FUNDING ALLOCATIONS FROM THE AMERICAN RESCUE PLAN Summary This is a discussion to set priorities for funding allocations from the American Rescue Plan. Staff Recommendation Background:
On March 11, 2021 President Joe Biden signed the American Rescue Plan (ARP) Act of 2021, also known as the COVID-19 Stimulus Package, into law. The ARP is set to provide $1.9 trillion in aid to speed up the United States’ recovery from the economic and health effects of the COVID-19 pandemic. Funding to states, municipalities and tribal governments can be used to support projects related to infrastructure, water, sewer and broadband. The United States Department of Treasury is expected to release further guidance on allowable costs related to the ARP.
The City of Lauderdale Lakes will receive an estimated $15.2 million as a direct payment from the State of Florida. Per the Department of Treasury’s guidance, states will receive funding for non-entitlement cities within 60 days of the bill’s passage. States are required to disburse funds to their non-entitlement cities based on the formula provided by the Department of Treasury. States are not authorized to restrict funds or change allocations to cities.
Staff has identified a list of proposed projects and programs that may be funded through the ARP. Staff is seeking guidance from the City Commission on prioritizing projects and programs. Funding Source:
United States Department of Treasury
Fiscal Impact:
The City will receive a direct payment estimated at $15.2 million through the State of Florida as part of the American Rescue Plan. The $15.2 million will be distributed over a two year period; $7.6 million in 2021 and in 2022. An amendment to the City's budget will be required to appropriate funds. Sponsor Name/Department: Asheley Hepburn, Director/Financial Services, MPA Meeting Date: 5/10/2021 |