(A) The Town Council hereby creates Fund 2407 which shall be titled the “ARP Coronavirus Local Fiscal Recovery Fund.” This fund shall be a non-reverting fund and shall be the designated fund for all assistance received by the Town of Beverly Shores from the American Rescue Plan Act of 2021.
(B) The Town Council hereby states that expenditures from Fund 2407 should be used solely for the following purposes as permitted by § 603(c) of the Social Security Act:
(1) To respond to the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19) or its negative economic impacts, including assistance to households, small businesses, and nonprofits, or aid to impacted industries such as tourism, travel, and hospitality;
(2) To respond to workers performing essential work during the COVID-19 public health emergency by providing premium pay to eligible workers of the metropolitan city, nonentitlement unit of local government, or county that are performing such essential work, or by providing grants to eligible employers that have eligible workers who perform essential work;
(3) For the provision of government services to the extent of the reduction in revenue of such metropolitan city, nonentitlement unit of local government, or county due to the COVID-19 public health emergency relative to revenues collected in the most recent full fiscal year of the metropolitan city, nonentitlement unit of local government, or county prior to the emergency; or
(4) To make necessary investments in water, sewer, or broadband infrastructure.
(C) (1) The town’s plan for distribution of the grant funds are as follows:
(a) The payments identified in the plan and future amendments to the plan shall be authorized use of the grant funds.
(b) The plan may be amended to comply with the Act, any subsequent amendments to the Act, rules adopted by the U.S. Treasury Department including 31 CFR Part 35, or at the discretion of the Council, to the extent provided by the Act.
(c) The payment of all grant funds and any subsequent grant funds received pursuant to the Act shall be subject to appropriation by the Council.
(d) The plan’s procedures and designated used for distribution of the grant funds from the Act are stated as follows in the divisions below.
(2) Recovering lost revenue due to COVID-19.
(a) The Town Council elects to use the “standard allowance” as indicated in the Final Rule by the US Treasury, up to the grant amount, not to exceed $10,000,000 on government services.
(b) The list of permitted uses shall be as listed on page 11 of the guide entitled Coronavirus State & Local Fiscal Recovery Funds: Overview of the Final Rule (the Guide) issued by the US Department of Treasury in January 2022, and any future guidance released by the US Department of Treasury.
(c) The Town Council shall exclude all ineligible uses listed in the “Restrictions on Use” section of the Guide as listed on page 41 and 42.
(d) Funds are subject to change and amendments to the plan for the use of loss revenue funds shall be considered by the Council upon request from the administration of subject to the Act itself.
(3) Conclusion.
(a) Pursuant to the Act, the town shall only use grant funds obligated prior to December 31, 2024.
(b) The period of performance for projects funded by the grant funds shall conclude on December 31, 2026; all projects funded by grant funds must be completed on or prior to the date.
(c) This section is subject to amendments as more permitted uses are determined by the Act, United States Treasury Department guidance, and as priorities for the town develop.
(d) This section shall be in full force and effective upon passage and may be subsequently amended to conform with the Act.
(Ord. 2021-07, passed 4-20-2021; Am. Ord. 2022-03, passed 5-17-2022)