The city must first recover the losses, according to the mayor

By on May 25, 2021 0

Rome is set to receive $ 12.07 million in federal COVID recovery funds, and Mayor Jacqueline M. Izzo said on Monday that the city must first determine its revenue losses during the pandemic before more funds can be allocated .

Accepting a grant presented to the city for the state and local fiscal recovery from the coronavirus is one of the items on the agenda to be discussed at the next meeting of the Common Council to be held at 7 p.m. on Wednesday, May 26. Sixteen members of the public will be allowed to participate in the Joint Council. Rooms at Town Hall for the meeting, which will otherwise be held via live stream and audio stream via Webex.

The U.S. Treasury Department has contacted the city about a grant in the amount of $ 12,067,211 for the coronavirus state and local tax clawback. The funds are to be spent in accordance with the requirements of the 2021 US bailout, which was enacted on March 11.

“We have to determine the revenue losses first, which is the first thing we have to deal with with this type of funding,” Izzo said. “Once we have that number, we can work with the rest of the allocations, and recommendations can be made on what we can do with that funding,” based on the Treasury Department’s guidelines and recommendations.

According to the latest Treasury Department guidelines, released on May 10, state and local government fiscal recovery funds for the coronavirus are designed to “provide eligible state, local, territorial and tribal governments with a substantial infusion of resources to respond pandemic response needs and rebuilding a stronger and more equitable economy as the country recovers. “

Recipients, adds the Treasury, can use the funds to:

Support public health spending, for example by funding COVID-19 mitigation efforts, medical spending, behavioral health care, and some public health and safety staff;

Address the negative economic impacts caused by the public health emergency, including economic harm to workers, households, small businesses, affected industries and the public sector;

Replace lost revenue from the public sector, using this funding to provide government services to the extent of the revenue reduction suffered as a result of the pandemic;

Provide a premium for essential workers, providing additional support to those who have and will bear the greatest health risks due to their services in critical infrastructure sectors; and or

Invest in water, sewage and broadband infrastructure, making the investments needed to improve access to drinking water, support vital wastewater and stormwater treatment infrastructure, and expand the broadband Internet access.

According to the National League of Cities, there are a number of formal procedural steps that communities must take to receive funding, but there are also informal steps that communities should take to prepare for funding, including l ” assessment of government operations and community needs to develop a recovery plan; bring together a team of internal and external stakeholders, such as city residents; and work on establishing connections between systems and levels.

Local governments will receive funds in two installments, with 50% starting in May 2021 and the balance delivered around 12 months later, according to the Treasury Department.

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