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

Rep. Kaptur proposes Great Lakes Authority to promote and protect region

U.S. Representative Marcy Kaptur recently introduced legislation to create the “Great Lakes Authority,” a federal entity that would “promote regional development in Ohio, Illinois, Indiana, Michigan, Minnesota, New York, Pennsylvania, and Wisconsin,” Cleveland.com reports. The authority would “promote economic development, job creation, and workforce education; restore and protect the Great Lakes’ environment; foster innovation to expand manufacturing and promote cleaner and more sustainable power production; and establish and administer funding mechanisms to finance clean energy, green infrastructure, water infrastructure, and broadband infrastructure projects,” according to the article. In a press release, Kaptur said, “[b]y investing in workforce development, innovative energy technologies and manufacturing processes, and responsible stewardship of our precious Great Lakes ecosystem – the Great Lakes Authority will unleash the Heartland’s full potential for this 21st century.” For more, read the full article and the full press release.

Economic Development, Federal Updates, State Updates

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

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

MORPC receives $400K federal grant to update Central Ohio economic development strategy

The U.S. Economic Development Administration awarded a $400,000 grant to the Mid-Ohio Regional Planning Commission (MORPC) “to update the region’s economic development strategy,” The Columbus Dispatch reports. One Columbus and other commission partners will be involved in developing the update, called a Comprehensive Economic Development Strategy (CEDS), according to the article. Dennis Alvord, acting assistant secretary of Commerce for Economic Development, said the CEDS “will lay the groundwork for future investment and job creation to help Central Ohio build resiliency from future economic disruptions.” The CEDS can “unlock important federal tools and funding sources across the region and ensure the region is prepared for transformational economic development opportunities.” For more, read the full article

Economic Development, Federal Updates, State Updates

Bricker & Eckler to present American Rescue Plan Act of 2021 webinar for Toledo Regional Chamber of Commerce

Bricker & Eckler will present a free webinar, "American Rescue Plan Act of 2021 (ARPA) Impact on Local Governments and Small Businesses," for the Toledo Regional Chamber of Commerce, Tuesday, April 20, at 2:00 p.m. EDT. The American Rescue Plan Act was signed into law on March 11, 2021. Many Americans have already begun receiving their “stimmies” - one of the most well-known aspects of the stimulus package. For the lesser known provisions – including large sums to be paid to local governments and small businesses - Bricker attorneys Jeff Harris, Jackie Lewis and Brooke Mangiarelli will provide an overview presentation and take questions from attendees. The webinar is open to Chamber members and non-members alike. Register here >>

Economic Development, Federal Updates, Financial Incentives, Project Finance