TITLE
Title
EMERGENCY RENTAL AND UTILITIES ASSISTANCE (ERUA) PROGRAM - FUNDING APPROPRIATION
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SPONSOR
Sponsor
Sharon Barlow
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BACKGROUND
Background
Guilford County received a total of $51.5 million in Federal and State allocations, plus some local funds, since February 2021. Nearly all of these funds have been spent as of June 2023, and staff are working to ensure all dollars are spent and to maximize the number of applicants that receive assistance. To this end, staff recommend that the interest earned from these allocations, a total of $59,322 as of June 5, 2023, be appropriated and used to pay applications for assistance.
US Treasury guidelines do not require interest earned on ERA funds to be used for program expenses or to be returned to the Treasury. Staff are recommending this use to maximize the number of applications paid at this time.
Staff plan to provide a final report on the ERA program including number of applicants assisted once the program is completely closed out.
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BUDGET IMPACT
Budget Impact
Grant Project Ordinance
Community Development & Recovery Fund
Emergency Rental Assistance 2 (State)
$59,322 Increase in Other Revenue
$59,322 Increase in Appropriation to Emergency Rental Assistance 2 (State)
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REQUESTED ACTION
Requested Action
Amend the Emergency Rental Assistance 2 (State) grant project ordinance with an increase of $59,322 in Other Revenue and an increase in appropriation to the Emergency Rental Assistance 2 (State) project in the same amount to reflect and spent interest earned on Federal and State ERA 1 and 2 funds to date.
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