City Council Finance Committee Approves $124 million in Federal Stimulus Funds for Major Investments Throughout Providence

Apr 21, 2022 | 0 comments

April 21, 2022

 

PRESS RELEASE

Contact:

Parker Gavigan, Director of Communications

pgavigan@providenceri.gov

 

 

City Council Finance Committee Approves $124 million in Federal Stimulus Funds for Major Investments Throughout Providence

 

Providence, RI – Tonight, the Providence City Council’s Committee on Finance approved $124 million in an American Rescue Plan Act (ARPA) ordinance that will fund significant long-term investments in housing, water/sewer and broadband infrastructure, community and social disparities, parks and recreation centers, tourism, travel, and hospitality, as well as economic relief for businesses and organizations hardest hit by the COVID-19 pandemic.

 

“It was important for the finance committee to thoroughly review this budget and scrutinize every expenditure,” said Councilwoman Jo-Ann Ryan, Chair of the Finance Committee. “The committee prioritized investments in housing, economic development, and infrastructure that touched every neighborhood. We’ve increased aid to elderly services and our libraries, set aside money for sidewalk repairs, and addressed food insecurities. Any modifications to the mayor’s proposed budget accounted for infrastructure commitments, changing priorities, and federal funding opportunities that could be found elsewhere. Residents should know the incredible responsibility of dispersing this money will be tracked and monitored by an independent auditor. This remains a top priority of the Council.”

 

“Guided by robust community input, Providence will be investing millions of dollars throughout our neighborhoods,” said Mayor Jorge O. Elorza. “I look forward to working with the full City Council to finalize these allocations and move these critical investments forward.”

 

“These stimulus dollars allow us to make much-needed investments in our city that will have immediate and generational impacts,” said Council President John Igliozzi. “I thank Mayor Elorza and my council colleagues, particularly Chairwoman Jo-Ann Ryan, for working collaboratively on a comprehensive plan but one that also zeroes in on certain priorities for our neighborhoods like housing development and upgrades to 21 of our community recreation centers across the city.”

 

 

ARPA Ordinance Summary

Investment in Housing

$30.7 million

Investment in Water, Sewer, Broadband and Infrastructure

$20 million

Investments in Community and Social Disparities 

$24.3 million

Speeding the Recover of the Tourism, Travel & Hospitality Sectors

$6.2 million

Economic Stabilization-Business 

$2.7 million

Revenue Recovery

$36.7 million

Administration expenditures/audit ($300,000) 

$3 million

Total = $123,769,438

 

The ARPA ordinance covers a period of January 6, 2022, through December 31, 2024. The ordinance will now be presented to the full Council for a future vote. A detailed copy of the ordinance can be found here.

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