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A resolution authorizing the Metropolitan Department of Finance to enter into memorandums of understanding with certain Metropolitan Government departments and agencies concerning prior appropriations of American Rescue Plan Act funds.
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WHEREAS, The Metropolitan Government of Nashville and Davidson County previously received federal Coronavirus State and Local Fiscal Recovery Funds ("SLFRF") authorized pursuant to the American Rescue Plan Act of 2021 ("ARPA") to aid in the response to, and the impact from, the COVID-19 pandemic (such funds being the "ARPA Funds"); and,
WHEREAS, following recommendations from the COVID-19 Financial Oversight Committee, the Metropolitan Council at various times has appropriated the ARPA Funds to Metropolitan Government departments and agencies; and,
WHEREAS, pursuant to rules of the U.S. Department of the Treasury (the "U.S. Treasury") who is responsible for overseeing and administering the SLFRF Program, all ARPA Funds must first be obligated by December 31, 2024, and such obligated funds must then be expended by December 31, 2026, or such unqualified funds must be returned to the federal government; and,
WHEREAS, the U.S. Treasury has issued guidance that under the SLFRF rules, the Metropolitan Council resolutions appropriating the ARPA funds to the Metropolitan Government departments and agencies that are unspent as of December 31, 2024, do not alone satisfy the requirements to obligate the ARPA Funds; and,
WHEREAS, as of the date of the filing of this resolution, the Metropolitan Government departments and agencies reflected on the attached Exhibit A to be incorporated herein by reference have previously appropriated ARPA Funds that will not be fully expended prior to December 31, 2024; and,
WHEREAS, the U.S. Treasury has further advised that an interagency agreement, such as a memorandum of understanding, that contains certain conditions regarding the use of ARPA Funds entered into by and between departments a...
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