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CITY OF LINO LAKES <br /> RESOLUTION NO.22-22 <br /> RESOLUTION ELECTING THE STANDARD ALLOWANCE <br /> AVAILABLE UNDER THE REVENUE LOSS PROVISION OF THE <br /> CORONAVIRUS LOCAL FISCAL RECOVERY FUND <br /> ESTABLISHED UNDER THE AMERICAN RESCUE PLAN ACT <br /> WHEREAS, Congress adopted the American Rescue Plan Act in March 2021 ("ARPA")which <br /> included $65 billion in recovery funds for cities across the country. <br /> WHEREAS,ARPA funds are intended to provide support to state, local, and tribal governments <br /> in responding to the impact of COVID-19 and in their efforts to contain COVID-19 in their <br /> communities, residents, and businesses. <br /> WHEREAS, The Fiscal Recovery Funds provides for$19.53 billion in payments to be made to <br /> States and territories which will distribute the funds to nonentitlement units of local government <br /> (NEUs). <br /> WHEREAS, The ARPA requires that States and territories allocate funding to NEUs in an <br /> amount that bears the same proportion as the population of the NEU bears to the total population <br /> of all NEUs in the State or territory. <br /> WHEREAS, $2,417,213.82 has been allocated to the City of Lino Lakes ("City")pursuant to the <br /> ARPA. <br /> WHEREAS, The Coronavirus State and Local Fiscal Recovery Funds ensures that governments <br /> have the resources needed to fight the pandemic and support families and businesses struggling <br /> with its public health and economic impacts, maintain vital public services, even amid declines <br /> in revenue, and build a strong, resilient, and equitable recovery by making investments that <br /> support long-term growth and opportunity. <br /> WHEREAS, In May 2021, the US Department of Treasury ("Treasury")published the Interim <br /> Final Rule describing eligible and ineligible uses of funds as well as other program provisions, <br /> sought feedback from the public on these program rules, and began to distribute funds. <br /> WHEREAS, on January 6, 2022, Treasury issued the final rule. The final rule delivers broader <br /> flexibility and greater simplicity in the program,responsive to feedback in the comment process. <br /> WHEREAS,the final rule offers a standard allowance for revenue loss of up to $10 million, <br /> allowing recipients to select between a standard amount of revenue loss or complete a full <br /> revenue loss calculation. <br /> WHEREAS,recipients that select the standard allowance may use that amount, in many cases <br /> their full award, for government services,with streamlined reporting requirements. <br /> League of Minnesota Cities <br /> American Rescue Plan Act Resolution Page 1 <br />