BEDC American Rescue Plan Act Policy Recommendations
28 Jun 2021
News
The Bloomington Economic Development Corporation (BEDC) is pleased to submit the following ideas on how local governments across Monroe County could invest funds from the American Rescue Plan Act (ARPA). BEDC staff and officers compiled these recommendations, with feedback gathered from BEDC members during the week of June 21.
According to US Department of the Treasury's Interim Final Rule, which is also summarized here and here, funds may be used to:
- Respond to the public health emergency or its negative economic impacts, including assistance to households, small businesses, and nonprofits, or aid to impacted industries such as tourism, travel, and hospitality;
- Respond to workers performing essential work during the pandemic by providing premium pay to eligible workers;
- Replace lost government revenue to the extent of the reduction in revenue due to the COVID-19 public health emergency relative to revenues collected in the most recent full fiscal year prior to the emergency; and
- Make necessary investments in water, sewer, or broadband infrastructure.
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