DATE:                     December 3, 2024
 
TO:                     Mayor and City Council
 
FROM:                     Director of Finance
 
SUBJECT
 
Adopt a Resolution Approving the Reallocation of Unobligated ARPA Funds to the General Fund
 
RECOMMENDATION
 
That the Council adopts a resolution (Attachment II) approving the transfer and appropriation ARPA Funds to the General Fund.
 
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. 
 
To meet funding requirements, all ARPA funding must be obligated by December 31, 2024, and fully expended by December 31, 2026. If Council adopts the resolution approving the reallocation of up to $3.6 million in ARPA funds, including an additional $0.4 million in earned interest to the General Fund, staff will commence with transferring and appropriating the unobligated funds to the General Fund.
 
ATTACHMENTS
 
Attachment I                                          Staff Report
Attachment II                                          Resolution