(A) There is created a new local grant fund within the Clerk- Treasurer’s office that shall be titled “ARP Coronavirus Local Fiscal Recovery Fund,” and that the Clerk-Treasurer has issued a fund number of _______ with respect to these monies and that such monies shall be non-reverting.
(B) The source of funding includes monies allocated to the city from the American Rescue Plan Act of 2021 and distributed to the city in 2021 and 2022.
(C) The uses of the fund are specified in § 603(C) of the ARP and shall be used in accordance with U.S. Treasury Guidance, as amended:
(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 to aid the 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 works of the metropolitan city, non-entitlement 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, non- entitlement 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, non-entitlement unit of local government or county prior to the emergency; or
(4) To make necessary investments in water, sewer or broadband infrastructure as approved by the U.S. Treasury.
(D) The monies of the fund shall be appropriated by the Common Council before expenditure and all expenditures shall be approved by the Common Council with any and all claims to be paid from the fund.
(E) The Common Council will establish the plan, conditions and rules upon which the funds are to be requested and used.
(F) The Clerk-Treasurer shall keep accurate and complete financial records of the receipt and expenditure of any and all monies deposited into and paid from the fund.
(G) Any unused monies of the fund shall be paid back to the U.S. Treasury, as required.
(H) Monies of the fund shall not be deposited into any pension fund.
(Ord. 9-2021, passed 4-26-21)