The U.S. Department of the Treasury is beginning the launch of its Coronavirus State and Local Fiscal Recovery Funds program which was established by the American Rescue Plan Act of 2021. The Act contains $350 billion in emergency funding for eligible state, local, territorial, and Tribal governments.
As part of their rollout, Treasury has released details on how these funds can be used in order to respond to acute pandemic response needs; fill revenue shortfalls among these governments; and support the communities and populations hardest-hit by the COVID-19 pandemic.
The total allocation for the City of Newport is approximately $7 million with distribution occurring over the next several years.
The period for the expenditure of ARPA funds runs from March 3, 2021 through Dec. 31, 2024. Funds committed by Dec. 31, 2024 must be expended by December 31, 2026.
The broad goals of ARPA are to:
1. Meet immediate COVID-19 related health, economic and social challenges;
2. Address long-term infrastructure and economic needs, and
3. Confront any inequities exacerbated by the pandemic.
The U.S. Department of Treasury has issued guidelines on how ARPA funds can, and cannot, be spent. These guidelines can be found in the links below.
ARPA Final Rules (Treasury.gov)
ARPA Frequently Asked Questions
43 Broadway, Newport, RI 02840
Phone: (401) 845-5300 (M-F 8:30 am - 4:30 pm)
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