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Request for Action <br />To Item Number <br />Ma Tor and CinT Council 4.16 <br />Agenda Section Meeting Date Prepared by <br />Consent November 20, 2023 Lori Stich, Finance Manager <br />Item Description Reviewed by <br />Resolution: Authorize Transfer of ARPA Funds oe Stremcha, Assistant Ci T Administrator <br />to the General Fund Reviewed by <br />Cal Portner, Ci r Administrator <br />Action Requested <br />Adopt, byT motion, a resolution authorizing the transfer of $300,000 of ARPA funds to the General fund. <br />Background/Discussion <br />During the 2023 budget work sessions, the Council was concerned about increasing the tax rate at a time `vhen <br />propert�T owners were alread�T struggling with increasing propert�T values. The goal was to keep the tax rate low to <br />ease the buYden on taxpayers following the pandemic. <br />As a result of the pandemic, Congress adopted the American Rescue Plan Act to provide support to local <br />governments faced with the economic impacts due to COVID-19. Additional guidance on eligible uses of ARPA <br />funds allows for spending that was not tied to specific reporting categories. <br />Financial Impact <br />Transfer $300,000 of ARPA funds to the General fund. <br />Mission/Policy/Goal <br />Meet the needs in an ever-changing environment foY a sustainable and pYospeYous communityr. <br />Attachments <br />■ Resolution <br />The Elk River Vision <br />A 2a�elcolning co�nlnunity 2a�ith T evolutiona� y and spizzted T esou� cefulness, exceptional <br />se�vice, and coln�nunity engagelnent that encou�ages and ins�iz•es pTo�pe�zty. <br />PowEREo ar <br />�I'1 ���� <br />Up�iited.• August 2020 <br />