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City of <br />Elk -�-� <br />RiVer <br />City of Elk River <br />City Council <br />Resolution 23- <br />A Resolution of the City Council of the City of Elk River Authorizing a <br />Transfer from the ARPA Fund to the General Fund <br />WHEREAS, Congress adopted the American Rescue Plan Act in March 2021 ("ARPA") <br />`vhich included $65 billion in recoveryT funds for cities across the countr�r. <br />WHEREAS, ARPA funds are intended to provide support to state, local, and tribal <br />governments in �esponding to the impact of COVID-19 and in their effoYts 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 ("CityT") pursuant <br />to the ARPA ("Allocation"). <br />WHEREAS, the Coronavirus State and Local Fiscal Recover�r Funds ensures that <br />governments have the resources needed to fight the pandemic and support families and <br />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 recoveryT <br />byT making investments that support long-term gro�vth and opportunit�-. <br />WHEREAS, the United States Department of TYeasury has adopted guidance regarding <br />the use of ARPA funds. <br />WHEREAS, on JanuaryT 6, 2022, TreasuryT issued the final rule. The final rule offered a <br />standard allo`vance for revenue loss of up to $10 million `vith broader flexibilityT and <br />streamlined reporting requirements. <br />WHEREAS, Yecipients that select the standaYd allowance may use that amount for <br />government services. <br />NOW, THEREFORE, BE IT RESOLVED b�r the CityT Council of the City= of Elk <br />River, iVlinnesota, as follo�us: The transfer of $300,000 from the ARPA Fund to the General <br />Fund. <br />rowEREo er <br />���V�� <br />