According to a City of Beloit press release, the city has been allocated about $15.2 million from the U.S. Treasury as part of the American Rescue Plan Act’s Local Fiscal Recovery Funds. Funds are being provided to state and local governments to help communities recover from COVID-19. The funds are distributed in two equal installments, with the first being received in July of this year. The second installment will be received in July next year. The funds must be obligated by December 31, 2024, and spent by December 31, 2026. The public will have many opportunities to provide feedback on how they believe these funds should be spent prior to adoption by Beloit City Council. The first public meeting and input opportunity will be at 6 p.m. on Monday, September 27 at Beloit City Hall. The meeting will include a brief presentation explaining how funds can be used before the floor is open for public comment. There will be no official action taken during the meeting. The U.S. Treasury states that funds can be used to support public health expenditures, address negative economic impacts caused by the public health emergency, replace lost public sector revenue, provide premium pay for essential workers, and invest in water, sewer, and broadband infrastructure.
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