DATE: October 29, 2024
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
American Rescue Plan Act (ARPA) Analysis and Review
RECOMMENDATION
That the Committee receive an update on the status of American Rescue Plan Act (ARPA) funded projects and approve recommendations for the reallocation of unobligated and/or unspent ARPA funds.
SUMMARY
On March 11, 2021, the federal stimulus package, the American Rescue Plan Act (ARPA), was signed into law, providing $1.9 trillion in economic stimulus to address impacts due to the COVID-19 crisis. Specifically, federal relief provided over $65 billion in direct funding to cities to address the economic and fiscal impacts of the pandemic and to assist in the recovery of local communities. The City of Hayward was awarded an allocation of $38.4 million in ARPA dollars.
This report provides an update on the status of ARPA funded projects that were approved by Council on July 13, 2021, as part of the Federal Stimulus Expenditure Plan. To meet funding requirements, all ARPA funding must be obligated by December 31, 2024, and fully expended by December 31, 2026. For the Committee’s consideration and feedback, this report provides recommendations on addressing unobligated funds and reallocation to ensure federal compliance.
ATTACHMENTS
Attachment I Staff Report
Attachment II ARPA Project Status Update