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File #: R-299-21    Version: 1 Name:
Type: Resolution Status: Agenda Ready
File created: 5/27/2021 In control: City Council
On agenda: 6/8/2021 Final action:
Title: Committing to the use of "SMART Analysis" in the appropriation and expenditure of American Rescue Plan Act of 2021 funds; and declaring an emergency.
Attachments: 1. Audio: Agenda Review, June 1, 2021
Date Ver.Action ByActionResultAction DetailsAgenda SummaryAudio
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Label
Councilwoman Moline

Title
Committing to the use of "SMART Analysis" in the appropriation and expenditure of American Rescue Plan Act of 2021 funds; and declaring an emergency.

Summary
WHEREAS, the American Rescue Plan Act of 2021 ("ARPA") was passed by the federal government to assist state and local governments in economic recovery from the negative impacts of the COVID-19 pandemic. The overarching goals of the funds are to support the immediate pandemic response, bring back jobs, and lay the ground work of a strong and equitable recovery; and

WHEREAS, the City of Toledo will receive over $180 million in ARPA funding over a two-year period to respond to acute pandemic response needs, fill revenue shortfalls, and support populations hardest hit by the COVID-19 crisis, with a timeline until December 31, 2026 to expend ARPA funding; and

WHEREAS, this once-in-a-lifetime funding presents a great opportunity for the City of Toledo, but also the challenge that the City of Toledo acts quickly to deploy these funds for their intended purpose, while also ensuring that these funds are spent wisely and in such a manner as to see the greatest impact where it is most needed; and

WHEREAS, the "SMART Analysis" is a tool by which the appropriation and expenditure of ARPA funds will be critically reviewed financially. The elements of the SMART Analysis include an evaluation and demonstration that the proposed use of APRA funds is/have:

* Sustainable in that it meets the City's current needs without compromising the economic ability of future generations to meet their own needs;
* Meets White House/US Treasury Guidelines;
* Accountable so there is justification for the use of the funds, a clear responsibility of the City of Toledo to perform that activity, and an identified responsible person or party who will report on the status and outcome of the use of these funds;
* Return on Investment so there are specific and measurable ...

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