Title
Authorizing the City to transfer $7,108,636 of American Rescue Plan Act funds from the 30% AMI Deeply Affordable Housing account to a specific account for the housing project at 892 E 7th St (District 4, Ward 6).
Body
WHEREAS, since the first case of coronavirus disease 2019 (COVID-19) was discovered in the United States, impacting every part of life, the public health and economic impacts of the pandemic have fallen most severely on communities and populations that were disadvantaged before it began; and
WHEREAS, on March 11, 2021, the American Rescue Plan Act (ARPA) was signed into law by the President of the United States and established the Coronavirus State and Local Fiscal Recovery Fund (SLFRF), intended to provide support to local governments in responding to the impact of COVID-19 and in their efforts to contain COVID-19 in communities, residents, and businesses; and
WHEREAS, the SLFRF fund disbursed by the U.S. Department of Treasury includes approximately $45.8 billion to metropolitan cities, of which $166,641,623 is intended for the City of Saint Paul; and
WHEREAS, according to the ARPA guidance, the SLFRF funds may be used for the following expenses (among others) and must be obligated by December 31, 2024 and spent by December 31, 2026:
1) To respond to the public health emergency or its negative economic impacts, including assistance to households, small businesses, and nonprofits, or aid to impacted industries such as tourism, travel, and hospitality (and specifically including the development of affordable housing);
2) To respond to workers performing essential work during the COVID-19 public health emergency by providing premium pay to eligible workers;
3) For the provision of government services to the extent of the reduction in revenue due to the COVID-19 public health emergency relative to revenues collected in the most recent full fiscal year prior to the emerg...
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