PRESENTATION ITEM
FROM: City Council President Jared Moore
SUBJECT:
title
AMERICAN RESCUE PLAN (ARP) ACT OF 2021
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REQUEST:
recommendation
That City Council receive a presentation by City Staff regarding a draft expenditure plan for the ARP.
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body
SUMMARY:
The American Rescue Plan (ARP) Act of 2021 is a $1.9 trillion economic stimulus bill. Within the ARP, the Coronavirus Local Fiscal Recovery Fund provides $350 billion for states, municipalities, counties, tribes, and territories, including $130 billion for local governments spilt evenly between municipalities and counties.
The City of Pensacola is schedule to receive about $19,100,000. The City has received guidance from the Treasury Department and as a result, staff has created a draft expenditure plan for these funds, which is to be presented to City Council via this presentation for Council review.
PRIOR ACTION:
None.
STAFF CONTACT:
Don Kraher, Council Executive
Amy Lovoy, Finance Director
ATTACHMENTS:
1) American Rescue Plan (ARP) Act - Expenditure Plan
PRESENTATION: Yes