(A) Fund established. There is hereby established a fund to be known as the ARP Coronavirus Local Fiscal Recovery Fund.
(B) Sources of funding. The source of funding includes monies allocated to the town from the American Rescue Plan Act of 2021 and distributed to the town in 2021 and 2022.
(C) Uses of funding.
(1) The town shall only appropriate and use the funds to cover costs incurred by the town by December 31, 2024 for the following:
(a) 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;
(b) To respond to workers performing essential work during the COVID-19 public health emergency by providing premium pay to eligible workers of the town that are performing such essential work, or by providing grants to eligible employers that have eligible workers who perform essential work;
(c) For the provision of government services to the extent of the reduction in revenue of the town due to the COVID-19 public health emergency relative to revenues collected in the most recent full fiscal year of the town prior to the emergency that being 2019; or
(d) To make necessary investments in water, sewer, or broadband infrastructure.
(2) The Town Council shall adopt a plan which provides details for the use of funds.
(D) The ARP Coronavirus Local Fiscal Recovery Fund shall exist until terminated by ordinance of the Town Council. Monies from this Fund may not be transferred to another fund of the town.
(Ord. 2021-02, passed 4- -2021)