AGENDA CAPTION:
Title
Receive a presentation on the American Rescue Plan, and provide direction to the City Manager.
Body
Meeting date: June 29, 2021
Department: Finance
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: Click or tap here to enter text.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Choose an item.
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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 has received half of the funds with the remaining funds anticipated to be received in 2022. Funds must be incurred (for the most part) between 3/3/21 and 12/31/24 with funds expended by 12/31/26. Staff recommends that the funds received be allocated and the remaining funds to be received next year be allocated then to give the City time to recover and see what the continued needs of the City and the community are as we progress through recovery.
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
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