Title
RESOLUTION NO. 21R-06-104: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL APPROVING THE AGREEMENT BETWEEN THE U.S. DEPARTMENT OF TREASURY AND THE CITY OF LAUDERHILL TO RECEIVE TOTAL GRANT FUNDING IN THE AMOUNT OF $18,132,223.00 FROM THE CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS; ACCEPTING THE FIRST HALF OF THE AMERICAN RESCUE PLAN ACT FUNDS IN THE AMOUNT OF $9,066,111.50; APPROVING THE APPROPRIATION OF SAID FUNDS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER, DESORAE GILES-SMITH).
Body
Request Action:
Approving the Agreement between the U.S. Department of Treasury's "Coronavirus Local Fiscal Recovery Fund" and the City of Lauderhill for the City of Lauderhill to receive a total of $18,132,223.00 and accepting the first half of the funds now.
Need:
To approve the receipt and appropriation of grant funding.
Summary Explanation/ Background:
The U.S. Department of Treasury is awarding all Tribal and local governments in the United States a share of Coronavirus State and Local Fiscal Recovery Funds pursuant to the American Rescue Plan Act. Most cities will receive their share of funds in two equal payments, one year apart. The City of Lauderhill is slated to receive a total of $18,132,223.00 and has or soon shall receive its first half of its share of funds in the amount of $9,066,111.50 for this fiscal year. This Resolution authorizes and approves the retroactive signature of the Agreement and recognizes and formally accepts the funds and approves the appropriation of said funds as submittal through the portal was required to get the actual funds disbursed to the City. The second payment of funds is expected to be received one year from now.
The funding objective of the Treasury is to provide flexible relief to support urgent COVID-19 response efforts to decrease spread of the virus, replace lost revenue to strengthen support for vital public services and help retain jobs, support necessary investments in water, se...
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