Number
211939
Version
SUBSTITUTE 3
Reference
210894
Sponsor
ALD. ZAMARRIPA, STAMPER, HAMILTON, BAUMAN, SPIKER AND BORKOWSKI
Title
Substitute resolution relating to the use of the second tranche of American Rescue Plan Act funding for financial sustainability.
Analysis
This substitute resolution:
1. Authorizes the Department of Administration to accept funding from the U.S. Department of Treasury for the American Rescue Plan Act (ARPA) grant in the amount of $197,113,324.50.
2. Allocates $96,900,000 to maintain service levels in the 2023 and 2024 budgets under the revenue loss provision, to fund housing programs, and to fund ARPA administration and compliance staff as follows:
2023 2024
Revenue Loss $75,000,000
Street Lighting $ 5,000,000 $ 5,000,000
Capital Budget - Housing $ 4,700,000 $ 4,700,000
Administrative and Compliance Staff $ 1,250,000 $ 1,250,000
$85,950,000 $10,950,000
Body
Whereas, On October 21, 2021, the Common Council adopted Resolution File Number 210894, relating to the appropriation of the first tranche of ARPA funds; and
Whereas, The City anticipates receiving the second tranche of the ARPA grant award under the Local Fiscal Recovery Fund (LFRF) in the amount of $197,113,324.50 in May 2022, of which the full amount is provided by the grantor, with $0 provided by the City; and
Whereas, The LFRF provides substantial flexibility for the City of Milwaukee to provide the foundation for a strong and equitable recovery from the COVID-19 pandemic; and
Whereas, The LFRF can be used to support COVID-19 and other public health response efforts, replace lost public sector revenue and support local public services, support economic stabilization for households and businesses, make necessary investments in water, sewer and broadband infrastructure, and address public health, economic and educational disparities; and
Whereas, The City faced substantial financial hardship due to the COVID-19 pandemic in the...
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