SUMMARY:
On March 25, 2022, the Town Manager provided the Select Board with a summary of the expenditures for business assistance through ARPA funds which showed the Town has now expended the entirety of the $250,000 for business assistance. The original proposal was to set aside $250,000 per year for three years (through 2024 when all ARPA funds are to be spent). The Town has received additional applications indicating a greater need upfront. The Town Manager is recommending to fund $500,000 this first year; $250,000 in 2023 and $0 in 2024 (unless we have the funds and there is still a need). We believe that businesses need the assistance now and that by 2024 the need will not be so great.
For the Board's information, for the first regular meeting after Town Meeting, staff will be providing an update on the status of all ARPA spending to date and a more detailed presentation on the Participatory Budgeting recommendations so that we can begin implementation.
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