American Rescue Plan Act (ARPA)
On March 11, 2021, President Joe Biden signed the American Rescue Plan Act of 2021 (H.R. 1319) into law. The $1.9 trillion package, based on President Biden's American Rescue Plan, is intended to combat the COVID-19 pandemic, including public health and economic impacts.
As part of the American Rescue Plan Act of 2021, the $350 billion Coronavirus State and Local Fiscal Recovery Fund provides local fiscal aid to support urgent COVID-19 response efforts, cover increased expenditures, replenish lost revenue and mitigate economic harm from the COVID—19 pandemic.
Funds may cover costs from March 3, 2021, through December 24, 2024.
What is Wake Forest's Share?
The Town of Wake Forest will receive $14.5 million from the Coronavirus Local Fiscal Recovery Fund. Money for the fund was included in the $1.9 trillion American Rescue Plan Act of 2021 that Congress passed in March 2021.
The money is being delivered in two batches. Half was delivered in July 2021, while the other half is scheduled to be delivered in the summer of 2022.
Four Areas of Funding
There are four areas of funding that have been identified in the Town of Wake Forest for ARPA Funding:
Public Health/Emergency/Negative Economic Impact