Posts Authored by Jeffry D. Harris

ARPA Final Rule - The "B-sides collection": Affordable housing development

With the U.S. Treasury’s January 2022 release of its Final Rule in the use of American Rescue Plan Act (ARPA) funds, we began publishing this series of articles reviewing the lesser publicized aspects of that guidance (hence, the “B-sides” moniker). In this edition, we address the Treasury’s presumed eligible use of federal stimulus funding in the development of affordable housing, and the limited scope under which private, for-profit entities may receive transfers of ARPA funds to carry out such ends.  

For more, read the full article.

Economic Development, Federal Updates, Financial Incentives

ARPA cash: Demolition and capital expenses related to vacant and abandoned buildings

Much ballyhoo has accompanied the U.S. Treasury’s publication in January 2022 of its Final Rule in the use of American Rescue Plan Act (ARPA) funds. Local governments across the country are scrambling to deploy their stimulus funds in response to the pandemic, pay essential workers, provide government services, and invest in water, sewer and broadband infrastructure. Buried in the Final Rule and its 403-page clarifying guidance is an express authorization to use funds to address vacant and abandoned buildings, including commercial and industrial structures.  

For more, read the full article

Economic Development, Federal Updates, Financial Incentives

ARPA final rule – The “B-sides collection”: Seeding revolving loan funds

Continuing our series of articles reviewing the lesser publicized aspects of the new American Rescue Plan Act (ARPA) guidance (hence, the “B-sides” moniker), we address the U.S. Treasury’s issued guidance as to using federal stimulus funding to seed local governments’ revolving loan funds (RLFs). Specifically, we have clearer guidance, via the final rule clarifying an earlier FAQ issued by the Treasury, as to the mechanics of seeding RLFs using ARPA fiscal recovery funds. 

For more, read the full article.

Economic Development, Federal Updates, Financial Incentives

ARPA final rule – The “B-sides collection”: Funding capital projects

Much has been written by various prognosticators regarding the January 6, 2022, release by the U.S. Treasury of its final rule as to the use by state and local governments of federal stimulus funding under the American Rescue Plan Act (ARPA). One head-turning change under the new guidance is the Treasury presuming up to $10 million in revenue has been lost by each local government due to the public health emergency.

Rather than rehash key takeaways from the Final Rule (radio’s “A-side” singles), we share this first of a series regarding lesser publicized aspects of the new ARPA guidance (the “B-sides”). Here, we focus on funding capital projects.

For more, read the full article

Economic Development, Federal Updates, Project Finance

ODOD releases rules and program guidelines for Brownfield Remediation Program and Building Demolition and Site Revitalization Program

The Ohio Department of Development (ODOD) released rules and associated program guideline documents (Brownfield Remediation and Building Demolition and Site Revitalization) to govern the disbursement of $500 million in total grant funds for distressed properties in Ohio. Governor DeWine’s signature of H.B. 110 on June 30, 2021, set in motion the creation of two massive funding sources that are now available to community and economic development stakeholders: Brownfield Remediation Program (see R.C. 122.6511) and Building Demolition and Site Revitalization Program (see R.C. 122.6512). Each of these programs will be administered by the ODOD pursuant to its newly-promulgated rules and the associated program guideline documents. The rules were emergency filed and are effective as of December 7, 2021, and are currently set to expire on April 7, 2022. ODOD is expected to initiate a formal rulemaking process for the rules between now and April 7, 2022, which will include the opportunity for public notice and comment. For more, read the full article.

Economic Development, Environmental, Financial Incentives, State Updates

Application deadlines for ARPA broadband funding: August 13 and August 20

The American Rescue Plan Act of 2021 (ARPA) provides billions in direct assistance to the State of Ohio and its metro cities, with additional funds to other cities, villages, townships and counties for broadband infrastructure investments, but time is almost up to apply. The deadline for the Emergency Connectivity Fund included in ARPA, a $7.17 billion program to help schools and libraries support and facilitate remote learning, is August 13, 2021. School districts may also apply for the ARPA Elementary and Secondary School Emergency Relief (ESSER) $4.5 billion fund for broadband infrastructure projects by August 20, 2021.

Bricker’s step-by-step guide to ARPA resources for expanding broadband connectivity can be found here.

Federal Updates, Project Finance, State Updates