The United States Department of the Treasury has issued an Interim Finale Rule (31 CFR Part 35) to implement the Coronavirus Local Fiscal Recovery Fund established under the American Rescue Plan Act. The City of Holyoke will be awarded $29,894,310.00 in two tranches to help turn the tide on the pandemic, address economic fallout, and provide a basis for a strong and equitable recovery. Funds may be used in five key areas: support public health recovery and services; address negative economic impacts caused by the public health emergency; replace lost public sector revenue; provide premium pay for essential workers; and make investments in water, sewer, and broadband infrastructure. Funds must be used to address the negative economic impacts of COVID-19, aid households negatively economically impacted by COVID-19 and primarily in Qualified Census Tracts (QCT’s).
In this first round of funding, the City is seeking proposals in the following areas:
- Affordable Housing
- Public Services
- Economic Development
- Aid to Impacted Industries
- Municipal Revenue Loss
- Municipal Administration and Planning