AGENDA CAPTION:
Title
Receive a Staff presentation regarding the current status of American Rescue Plan (ARP) funding, and provide direction to the City Manager.
Body
Meeting date: November 6, 2024
Department: City Manager's Office
Amount & Source of Funding
Funds Required: Click or tap here to enter text.
Account Number: Click or tap here to enter text.
Funds Available: Click or tap here to enter text.
Account Name: Click or tap here to enter text.
Fiscal Note:
Prior Council Action: City Council approved Resolution 2023-212R at the April 16, 2024 City Council meeting to reallocate American Rescue Plan funds.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Public Safety, Core Services & Fiscal Excellence
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
The US Treasury launched the Coronavirus State and Local Fiscal Recovery Fund totaling $350B approved through the American Rescue Plan. San Marcos has received an allocation of $18,101,483. The City received half of the funds in June 2021 and the remaining funds in June 2022. Funds must be allocated by 12/31/24 with funds expended by 12/31/26. The first tranche was allocated in 2021, the first round of the second tranche was allocated in 2022, and the remaining funds were allocated in June 2023. In addition to ARP, the City was also awarded Coronavirus Relief Funds (CRF) in 2021 that freed up $2.6 million in General Funds. The most
recent status report ...
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