Report to Mayor and City Council
Tuesday, October 03, 2023
Consent
SUBJECT:
Title
CONSIDER RESOLUTION 23-157 REALLOCATION OF ARPA FUNDS TO SMALL BUSINESS GRANT PROGRAM
Body
I. SUMMARY
This is a quarterly financial report to the City Council to provide a status update on how ARPA American Rescue Plan Act (ARPA) is being used and provide an overview on projects timeline, budget and estimated date of completion.
II. RECOMMENDATION
Recommendation
Approve Resolution 23-157 to transfer ARPA funds from various ARPA projects to ARPA Small Business Grant Program in the amount of $900,000 and replace transferred funds from projects with General Fund Reserve in the amount $900,000.
Body
III. ALTERNATIVES
TAKE any other action the City Council deems appropriate.
IV. BACKGROUND
The American Rescue Plan act is a federal stimulus plan to provide funding to State and Local Governments to assist communities in recovering from the COVID-19 pandemic. The City of Carson received $17.8 million and on March 15, 2022, the City Council issued specific earmarks for the use of ARPA funds (Budget Resolution 22-039). Per United States Treasury guidelines for ARPA, funds must be obligated by December 31, 2024, and fully expensed by December 31, 2026. City of Carson spent $11.9 million at the end of Fiscal Year 2022-2023 4th Quarter. There is $5.8 million left and the status updates for each project financed by ARPA are below:
$3.4 Million Citywide Slurry Seal Project
On September 6th, 2022, Council approved contract to be awarded to Petrochem Materials Innovation, LLC. A month later the contract was fully executed, and Purchase Order was issued. The total cost of this project is estimated at $3.1 million. According to Staff Report 2022-730 presented to Council on September 6th 2022, the project will seal approximately 35 miles of streets throughout the City of Carson in an equitable manner for each district. The rubberized slurry seal provided better protection to pa...
Click here for full text