The U.S. Department of the Treasury recently announced the launch of the Coronavirus State and Local Fiscal Recovery Funds, established by the American Rescue Plan Act of 2021, to provide $350 billion in emergency funding for eligible state, local, territorial, and Tribal governments.
Treasury also released details on how these funds can be used 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 crisis (Fact Sheet).
The total allocation for The City of Victoria is $14,508,296. Half of the funds were received June 2021 and the remainder will be received in 2022.
All funds received must be committed to an eligible expense by December 31, 2024.