Tuesday, November 29, 2022        

Proposed American Rescue Plan Act Funding Plan

 

At the May 3, 2022 Town Council meeting the council voted to table the proposed American Rescue Plan Act Funding Plan until the Town Council meeting on Tuesday, May 17, 2022 at 7:00 PM.

Please find the updated and previous versions of the plan below. 

 


Town of Smithfield Allocation

The funds will be distributed to the town over the next year. The amounts are broken down into two components, as follows:

 

1st Tranche Rec’d

2nd Tranche (Est.)

Total Allocation (Est.)

Non-entitlement Aid to Municipalities

1,145,963.66

1,145,963.66

2,291,927.32

County-based Aid to Municipalities

2,126,617.78

2,126,617.79

4,253,235.57

Totals

3,272,581.44

3,272,581.45

6,545,162.89

 

Funds must be obligated by December 31, 2024 and spent by December 31, 2026


Criteria Based on US Treasury FRF Final Rule

“(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, 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;

 

*Added: The final rule offers a standard allowance for revenue loss of up to $10 million, allowing recipients to select between a standard amount of revenue loss or complete a full revenue loss calculation. Recipients that select the standard allowance may use that amount – in many cases their full award – for government services, with streamlined reporting requirements

 

“(4) to make necessary investments in water, sewer, or broadband infrastructure.


The Town Council conducted a work session on Tuesday, March 8, 2022 to layout a preliminary proposal for the use of the American Rescue Plan Act funding. The plan is available here