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CONSENT INDIAN RIVER COUNTY INTER -OFFICE MEMORANDUM OFFICE OF MANAGEMENT & BUDGET TO: Members of the Board of County Commissioners DATE: January 31, 2022 THROUGH: Jason E. Brown, County Administrator FROM: Kristin Daniels, Director, Management & Budget SUBJECT: American Rescue Plan Act of 2021 — Small Business & Non -Profit Grant Program Update BACKGROUND: On March 11, 2021, President Biden signed the $1.9 trillion American Rescue Plan Act of 2021. The American Rescue Plan, ARP as it is normally referred to, is a COVID-19 stimulus package that was intended to speed up the United States' recovery from the negative health and economic impacts of COVID-19. Indian River County's ARP allocation is $31,063,168, of which 50%, or $15,531,584 was received in May 2021, wife the remaining 50% estimated to be received in May 2022. The County has until December 31, 2024 to encumber the funds, and until December 31, 2026 to fully exhaust all funding. On August 17, 2021, the Board approved the initial ARP Spending Plan with $1,000,000 allocated to Small Business Grants and $500,000 allocated to Non -Profit Grants. In addition, the Board also allocated a portion of the Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to the Small Business Grant Program in 2020, for a combined total of $3,720,000 for Small Business Grants and $500,000 for Non -Profit Grants. On November 16, 2021, the Board approved the Small Business Grant application deadline of November 19, 2021 and the Non -Profit Grant application deadline of December 15, 2021 with both programs to sunset on December 31, 2021. An exemption was granted for any applicants waiting on supporting documentation such as SAM.gov registration, to have through January 31, 2022 to submit a completed application. The Board requested Staff return with a program update on February 8, 2022. 32