Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 21-R137, Authorizing the City Manager or Designee to Accept Coronavirus Local Fiscal Recovery Funds and Award Terms and Conditions Between the City of Port St. Lucie and the U.S. Department of the Treasury; Approval of a Budget Resolution and Authorizing Projects; Providing for Conflicts; Providing for Severability; and Providing an Effective Date.
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Submitted By: Kate Parmelee, Director of Strategic Initiatives & Innovation
Strategic Plan Link: The City's Goal of a high-performing city government organization.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Kate Parmelee, City Manager's Office
2. Parties: City of Port St. Lucie and the U.S. Department of the Treasury
3. Purpose: The City of Port St. Lucie is scheduled to receive $24,739,425 from the U.S. Department of the Treasury through its direct allocation from the Coronavirus Local Fiscal Recovery Fund. The City will receive these funds in two tranches with 50% of the funds or $12,369,712.50 received on June 4, 2021. The second tranche will be distributed 12 months later.
4. New/Renewal/Modified: New
5. Duration: The period of performance for award began on June 4, 2021 and will end on December 31, 2026. As set forth in Treasury's implementing regulations, Recipients may use award funds to cover eligible costs incurred during the period that began on March 3, 2021 and ends on December 31, 2024.
6. Benefits to Port St. Lucie: This funding benefits Port St. Lucie residents in the recovery from the coronavirus pandemic and improves critical water, sewer and broadband infrastructure.
7. Cost to Port St. Lucie (Annual and Potential): Any annual and/or potential additional costs to Port St. Lucie are being identified as projects are developed and bid in compliance with federal guidelines.
Presentation Information: Kate Parmelee, Director of Strategic Initiatives & Innovation, will be available to answer questions ...
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