Title
Coronavirus Relief Funds
Action
Action:
A. Adopt a budget ordinance appropriating $154,549,215.90 from the Coronavirus Relief Fund provided by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in the COVID Stimulus Fund, and
B. Authorize the City Manager to execute any necessary contracts and agreements related to the Coronavirus Relief Fund.
Body
Staff Resource(s):
Kelly Flannery, Finance
Ryan Bergman, Strategy and Budget
Explanation
* The Coronavirus Relief Fund (CRF), which provided $150 billion in direct assistance for local governments, is to be used to cover expenses made in response to the COVID-19 pandemic.
* The CRF provided direct payments to local governments with populations over 500,000; Charlotte was one of the 36 cities across the nation that met the criteria.
* Funds from the CRF may only be used to cover costs that are necessary expenditures incurred due to COVID-19, costs not accounted for in the FY 2020 Budget, and costs incurred between March 1 and December 30, 2020.
* Potential uses of the funds include medical expenses, payroll expenses, COVID-19 compliance, and economic support.
* The city has developed a funding plan ensuring funds are to be distributed to meet short-term needs and to preserve long-term stability of city services.
Background
* On March 25, 2020, in response to the COVID-19 Pandemic, Congress passed the Coronavirus Aid, Relief and Economic Security Act (CARES Act).
* In early April, the Mayor and City Council established three Community Recovery Task Forces to address community concerns related to COVID-19. These Task Forces focus on three specific areas: Small Business, Housing, and the Airport.
* On April 13, 2020, City Council appropriated Community Development Block Grant (CDBG), Emergency Solutions Grant (ESG), and Housing Opportunity for Persons with AIDS (HOPWA) funds in the amount of $5.7 million to support homeless and housing efforts and approved an additional $1 million fr...
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