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A resolution approving mayoral conditional approval and acceptance of a local government Coronavirus State and Local Fiscal Recovery Funds established by the American Recovery Plan Act of 2021 from the U.S. Department of the Treasury to The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Nashville Finance Department, and allocating certain funds to aid in Nashville's recovery from the Coronavirus pandemic.
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WHEREAS, as authorized in the American Recovery Plan Act the U.S. Department of the Treasury has awarded a grant in an amount not to exceed $259,810,600 (the "ARP Funds") with no cash match required to The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Nashville Finance Department to respond to acute pandemic response needs, fill revenue shortfalls, and support the communities and populations affected by the COVID-19 crisis; and,
WHEREAS, the Finance Department anticipates receipt of the one-half of the ARP Funds no later than June 1, 2021 and the remainder no later than July 1, 2022; and,
WHEREAS, the ARP Funds shall be deposited into an American Rescue Plan Fund No. 30216; and,
WHEREAS, a Financial Oversight Committee shall be convened to make recommendations within the disbursement plan for the ARP Funds in accordance with the U.S. Department of the Treasury guidelines and regulations; and,
WHEREAS, the Metropolitan Council desires the ARP Funds appropriated by this resolution to be part of the disbursement plan, and,
WHEREAS, the Metropolitan Council desires to appropriate to certain accounts for the benefit of
various Metropolitan Nashville entities Two Million, Nine Hundred Twelve Thousand, Six Hundred Sixteen Dollars ($2,912,616), the ARP Funds received from the U.S. Department of the Treasury and deposited into the American Rescue Plan Fund maintained by the Department of Finance; and,
WHEREAS, the COVID-19 pandemic has caused an increase in b...
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