Title
Discuss and consider action regarding ARPA funding allocation.
Summary
The City was awarded $6.1M in ARPA funding, and $3.9M remains to be allocated. During the June 21, 2022 Budget Workshop with Council, it was recommended that ARPA funds be used to fund the eligible projects below in lieu of issuing debt. Although Council approved the issuance of Certificates of Obligation for these specific projects, utilizing ARPA funds would save taxpayers approximately $2.2M in interest over the 20-year life of the debt. While there was consensus from Council to proceed, this agenda item provides for formal action and approval.
There have also been two updates to the project list below. First, the Fiber Ring project cost has been updated to reflect an alternative solution which will reduce the cost from $1M to less than $300K. Second, the permitting software which was planned for the FY23 budget has been added for consideration.
Based on our initial projections, we anticipate approximately $190K in ARPA funds that remain to be allocated. To the extent funds are available following completion of these projects, additional recommendations will be brought to Council for consideration.
The revised list of projects is as follows:
Project Eligible Amount
Police Department Generator $300,000
Paved Trails ADA Program $170,000
Unpaved Trails ADA Program $60,000
Public Rights-of-Way Sidewalk ADA Program $100,000
1849 Park Phase 1 GAP: Lights $595,000
1849 Park Phase 1 GAP: Parking $1,500,000
Annual Trail Connectivity $85,000
Fiber Ring* $300,000
Technology: Permitting Software** $600,000
Total Proposed Allocation: $3,710,000
*Fiber Ring originally estimated at $1M
** Not a part of July 2022 debt issuance
Prior City Council Action
Discussion during the June 21, 2022 Budget Workshop
Deadline for City Council Action
Action requested June 28, 2022
Funding Expected: Revenue __ Expenditure _X_ N/A __
Budgeted Item: Yes __ No _X_ N/A __
Amount: $3...
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