AGENDA CAPTION:
Title
Receive a presentation on the second tranche of funds received under the American Rescue Plan Act, and provide direction to the City Manager.
Body
Meeting date: June 29, 2022
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.
Choose an item.
Choose an item.
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)]
Choose an item.
Background Information:
The US Treasury launched the Coronavirus State and Local Fiscal Recovery Fund totaling $350B approved through the American Rescue Plan. San Marcos received an allocation of $18,101,483. The City received the first half of the funds in June 2021, and the second half in early June 2022. Funds must be obligated by 12/31/24 and expended by 12/31/26. City Council received a presentation in mid-April with recommendations on allocating a portion ($4.9 million of $9.05 million) of the second tranche of funds. Staff is seeking direction to finalize the recommendation and formalize by Resolution on July 5th. Staff will come back with a recommended process to determine allocation of remaining funds ($4 million) after the results of the community survey are received.
Council Committee, Board/Commis...
Click here for full text