Title
Dept/ Agency: Administration/Office of the Business Administrator
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Acceptance of Grant Funds
Purpose: Acceptance of American Rescue Plan Act of 2021 stimulus funds to respond to the economic crisis brought on by the ongoing Covid-19 pandemic.
Entity Name: United States Department of Treasury
Entity Address: 1500 Pennsylvania Avenue, NW, Washington, D.C. 20220
Grant Amount: $176,667,606.00
Total Project Cost: $0.00
City Contribution: $0.00
Other Funding Source/Amount: $0.00
Grant Period: March 10, 2021 through December 31, 2024
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
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WHEREAS, on March 10, 2021, the 117th Congress of the United States and President Joseph R. Biden officially enacted a $1.9 trillion stimulus package, the American Rescue Plan Act of 2021, in response to the economic crisis brought on by the ongoing Covid-19 pandemic; and
WHEREAS, the American Rescue Plan Act of 2021, is a unique opportunity for the City of Newark (the "City") to plan for its future and make significant investments in programs and policies that set the City of Newark on a new trajectory to grow family-sustaining jobs at a faster rate, reduce and combat entrenched systemic poverty, and develop new and innovative methods for performing city services; and
WHEREAS, the federal dollars provided in the American Rescue Plan Act will arrive to the City incrementally with the first half being dispersed before the end the City's fiscal year 2021 and the second half arriving over the course of the next four (4) years. Careful planning will be needed to make the most of this influx; and
WHEREAS, working within the parameters determined at the federal level...
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