HomeMy WebLinkAboutResolution 2022 (28) Resolution No. 28 (2022)
ST. C QNTY
RESOLUTION ALLOCATING ARPA FUNDING
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COVER MEMO
TO: County Board of Supervisors
FROM: Ken Witt, County Administrator
DATE: August 2, 2022
AGENDA ITEM: Resolution Allocating ARPA Funding
BACKGROUND INFORMATION
Now that the second tranche of ARPA funding has been received from the US Treasury, the
County is ready to allocate the final uses of ARPA funds. The recommendation is to allocate all
remaining funds to the Capital Improvement Projects fund to avoid future debt issuance and
save taxpayer money on bond issuance expenses and interest expenses. The US Treasury final
ruling opened up this option with St. Croix County classifying ten million dollars of the ARPA
funds as lost revenues.
11" 1 Resolution No. 28 (2022)
ST. C 0 QNTY
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RESOLUTION ALLOCATING ARPA FUNDING
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1 WHEREAS, St. Croix County has received$17,615,957.64 from the federal government under
2 the American Rescue Plan Act(ARPA)to assist with Covid-19 recovery; and
3
4 WHEREAS,the St. Croix County Committee of the Whole met on July 28,2021 to review
5 project ideas and provide the County Administrator with guidance on where to incorporate ARPA funds
6 into the budget; and
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8 WHEREAS,the St. Croix County Board allocated$10,062,309.64 of the funds for ARPA
9 projects in accordance with the guidance earlier provided; and
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11 WHEREAS, funding Capital Improvement Projects with cash instead of borrowing has the
12 biggest tax savings for taxpayers by avoiding bond issuance costs and avoiding interest expenses.
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14 NOW,THEREFORE, BE IT RESOLVED that the St. Croix County Board of Supervisors
15 does hereby allocate the remaining $7,553,648.00 for Capital Improvement Projects providing the
16 taxpayers with the most fiscally prudent use of available funds.
Legal—Fiscal—Administrative Approvals:
Legal Note:
Fiscal Impact: Resolution provides funding the Capital Improvement Fund helping the County
avoid future expenses associated with debt issuance.
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07/12/22 Administration Committee RECOMMENDED
RESULT: RECOMMENDED [UNANIMOUS]
MOVER: Scott Counter, Vice-Chair
SECONDER: Bob Long, Supervisor
AYES: Long, Koch, Berning, Feidler, Counter
Vote Confirmation.
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St. Croix County Board of Supervisors Action:
Roll Call -Vote Requirement— Majority of Supervisors Present
RESULT: ADOPTED [UNANIMOUS]
MOVER: Dave Ostness, Supervisor
SECONDER: Scott Counter, Supervisor
AYES: Lind, Anderson, Long, Leaf, Koch, Adams, Berning, Feidler, Ostness, Counter,
Hansen, Sherley, Tellijohn, Carlson, Barcalow, Swanepoel, VanSomeren,
Ramberg
EXCUSED: Richard Ottino
This Resolution was Adopted by the St. Croix County Board of Supervisors on August 2, 2022
Christine Hines, County Clerk