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City of Elk River <br />ver City Council <br />Resolution 22-64 <br />A Resolution of the City Council of the City of Elk River Authorizing a <br />Transfer from the ARPA Fund to the Multipurpose Facility Fund <br />WHEREAS, Congress adopted the American Rescue Plan Act in March 2021 ("ARPA") <br />which included $65 billion in recovery funds for cities across the country. <br />WHEREAS, ARPA funds are intended to provide support to state, local, and tribal <br />governments in responding to the impact of COVID-19 and in their efforts to contain <br />COVID-19 in their communities, residents, and businesses. <br />WHEREAS, $2.755 million has been allocated to the City of Elk River ("City") pursuant <br />to the ARPA ("Allocation"). <br />WHEREAS, the Coronavirus State and Local Fiscal Recovery Funds ensures that <br />governments have the resources needed to fight the pandemic and support families and <br />y businesses struggling with its public health and economic impacts, maintain vital public <br />services, even amid declines in revenue, and build a strong, resilient, and equitable recovery <br />by making investments that support long-term growth and opportunity. <br />WHEREAS, the United States Department of Treasury has adopted guidance regarding <br />the use of ARPA funds. <br />WHEREAS, on January 6, 2022, Treasury issued the final rule. The final rule offered a <br />standard allowance for revenue loss of up to $10 million with broader flexibility and <br />streamlined reporting requirements. <br />WHEREAS, recipients that select the standard allowance may use that amount for <br />government services. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota, as follows: The transfer of $655,000 from the ARPA Fund to the <br />Multipurpose Facility Fund. <br />r0 V I a E 0 01ATURE <br />