RECOMMENDATION(S):
RATIFY execution by the County Administrator of a grant award agreement with the U.S. Department of the Treasury in the amount of $224,058,903 for the American Rescue Plan - State and Local Coronavirus Fiscal Recovery Fund direct allocation to Contra Costa County.
FISCAL IMPACT:
$224,058,903; 100% Federal, No County match. Funding will be distributed by the U.S. Treasury to the County in two equal tranches: $112,029,451.50 in May 2021 and $112,029,451.50 in May 2022. Claims for funds must be incurred by December 31, 2024 and spent by December 31, 2026.
BACKGROUND:
The American Rescue Plan will deliver $350 billion for eligible state, local, territorial, and Tribal governments to respond to the COVID-19 emergency and bring back jobs through the Coronavirus State and Local Fiscal Recovery Fund. This substantial infusion of resources is designed to help turn the tide on the pandemic, address its economic fallout, and lay the foundation for a strong and equitable recovery.
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