The City of San Marcos has been allocated $18.1 million in federal funding as part of the $350 billion American Rescue Plan Act. This funding is distributed by the U.S. Department of Treasury to assist with the economic impact of the COVID-19 pandemic.
The city may use this funding toward pandemic response needs, to fill revenue shortfalls of local governments and for investments in critical water and broadband infrastructure.
"As our recovery from the economic hardships of the COVID-19 pandemic continues, this funding will ensure the city is able to continue to provide essential services with care and efficiency our residents deserve," says City Manager Bert Lumbreras in a city press release.
The city is currently working on completing requirements set by the U.S. Treasury's submission process in order to receive 50% of the funding up front. The remaining balance will be issued a year later.
All funds allocated by the American Rescue Plan Act must be spent by the city by the end of 2024. City staff intends to work with City Council members to decided where funds should be allocated.