Golden Valley city officials anticipate that the city will receive approximately $2.2 million or approximately $100 per capita over the next four years for COVID-19 relief. The money comes from the Coronavirus Local Fiscal Recovery Fund, which was created under Congress’ American Rescue Plan Act.
Estimated fund allocations were reported by the finance director Susan Virnig at the City Council’s June 1 meeting. Virnig said guidance was given by the U.S. Treasury on how funds can be utilized, including revenue replacement, infrastructure projects, the purchase of PPE and more.
Virnig added that more information about allocations and plans for the money would be included in upcoming 2022-2023 budget considerations, but a first payment to the city could arrive as soon as Friday, June 11.
Funds must be utilized by 2024.
Councilmember Larry Fonnest said he would be interested in discussing whether some portion of funds could be given to local community-based organizations or nonprofits.
The American Rescue Plan was adopted by Congress in March and includes $65 billion in nationwide recovery funds.