Stimulus legislation promises funding for local governments

Stimulus legislation promises funding for local governments

The latest round of federal government stimulus funding has been approved and signed into law, with $1.9 trillion allocated in the package. What does the stimulus legislation mean for municipal governments across North Carolina?

WithersRavenel’s funding professionals have been monitoring the stimulus funding bill closely, and we know how these funds can help your community. The legislation provides $350 billion for states, local governments, territories and tribes, including $8.9 billion for North Carolina. Small- and mid-sized communities across the state will receive hundreds of thousands or even millions of dollars to respond to COVID-19. The money can be used for water, sewer and broadband services; to replace lost revenue; invest in infrastructure; encourage economic recovery; or pay for other targeted services.

Also included: a $10 billion Critical Infrastructure Projects Fund, enabling communities to quickly carry out vital projects, helping people stay in their jobs or benefiting schools and health care.

WithersRavenel’s Vice President of Funding and Asset Management Seth Robertson will be discussing stimulus funding March 18 at a webinar with Dude Solutions.

Do you have a community project in the planning or exploratory stages? Looking for ways to recover or build resilience due to COVID-19? Your community is likely receiving stimulus money, and WithersRavenel can help you understand the available options. Contact Seth at (919) 239-0323 or srobertson@withersravenel.com for more information.