The village will receive COVID relief funding through the American Rescue Plan Act of 2021, a $1.9 trillion relief bill signed into law last month. The stimulus package provides $360 billion in direct financial relief for state and local governments, including $65 billion for America’s cities, villages and towns, as well as $65 billion for counties.
The village is expected to receive an estimated $110 per capita. With about 22,000 residents, funding would total approximately $2.4 million, village treasurer Irene Woo announced during last Wednesday’s budget session.
The funding will be delivered in tranches; the first half is expected to be received within the next three months, and the second half 12 months after the first payment is received.
Unlike FEMA funding, the relief will arrive before the village reports how the funding is being used. Use of funds has recently been expanded to now include any COVID-related revenue losses as well as water, sewer and broadband infrastructure improvements.
“The village can really take advantage of this, since the village has experienced COVID-related revenue losses at the pool and in the recreation department. The village is also incurring water infrastructure improvement costs,” Woo said. “Once funding is received, the board of trustees will direct those funds as they see fit within the guidelines.”
The U.S. Department of the Treasury is currently working on the regulations that will provide more detail and guidance.
—Submitted by the Village of Garden City
