STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: June 23, 2021
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Budget and Management Services
EXECUTIVE: Elizabeth Reich
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SUBJECT
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A resolution to authorize the City Manager to (1) spend funds in compliance with the American Rescue Plan Act of 2021 and in accordance with guidance from the U.S. Department of Treasury for the Coronavirus Local Fiscal Recovery Fund (CFDA No. 21.027); (2) take all necessary actions to apply for and receive funds for which the City is eligible from state and federal sources; (3) receive and deposit funds in an amount not to exceed $355,426,891.00 in the Coronavirus Local Fiscal Recovery Fund which will be received in two tranches with 50% in 2021 and 50% in 2022; (4) establish appropriations in an amount not to exceed $177,713,445.50 in the Coronavirus Local Fiscal Recovery Fund; (5) transfer appropriations, expenses, or cash between funds established for the coronavirus disease 2019 (COVID-19) response; and (6) execute any grant agreements necessary to receive COVID-19 funding from federal and state sources - Not to exceed $355,426,891.00 - Financing: U.S. Department of the Treasury - Coronavirus Local Fiscal Recovery Funds
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BACKGROUND
Building on what began under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) enacted in March of last year, on March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA). ARPA includes $1.9 trillion to provide additional federal resources for economic stimulus and recovery from the COVID-19 pandemic.
The legislation provided $350 billion for fiscal assistance to state, local, and tribal governments, with funds for municipalities distributed roughly using the Community Development Block Grant formula. The City of Dallas will receive approximately $355,426,891.00 under this program.
The ...
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