03-16-2021 American Rescue Plan ActAbi131iICt�\T 1�13SCiJE PIAN A(*.'..T
Tim Johnson
Director,
Economic Development &
Redevelopment
CITY OF
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Federal Way
AMERICAN REAS(.103JEA PIAN A(*.'..T
$1.9 Trillion
628 Page Act
CITY OF
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Federal Way
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History of Measures
Totals Over $5 Trillion in spending
in response to COVID-19 in about 1 Year
• Families First
• CARES Act
• Health Care Enhancement Act
• Response & Relief Act
American Rescue Plan Act
CITY of
�. Federal Way
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Key Business Labor Programs
CITY OF
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Federal Way
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Restaurant Revitalization Fund, RRF
• $29 Billion
• Administered by SBA
• Mortgages or rent, utilities, supplies, food and beverage inventory,
payroll, and operational expenses
• $5 billion dollars of the fund will be set aside for restaurants with
gross receipts under $500,000.
• The first 3 weeks of th
for awards to women,
disadvantaged -owned
application period, grants will be prioritized
veteran, and/or socially and economically
businesses.
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OUTREACH:
Sent out letters and e-mails this week
to nearly 270 Restaurants.
CITY OF
A; Fe d e ra I Way
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• $15 billion in EIDIs targeted to businesses with 10 or fewer employees
that experienced extreme revenue losses in low-income areas.
• $7.25 billion in PPP
• $1.25 -$3 billion in Shuttered Venue Grant
• $1.5 billion for SBA support -SBDC, WBC, and SCORE
• $3 Billion for addressing bottom -up approach to addressing economic
recovery through EDA to fund community -based economic development
efforts to respond to COVID-19 specifically at least $450 million of the
funds would be tied to job losses resulting from the impacts on the
travel, tourism or outdoor recreation sectors.
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• $75 million for Occupational Safety and Health Administration
enforcement and grant funding in support of a COVID-19 Protection
including $10 million training grants to help keep vulnerable
workers healthy and safe from COVID-19.
• Reimburse employers with less than 500 employees for the cost of
emergency paid leave through a refundable tax credit, extending
emergency paid leave through the Families First Coronavirus
Response Act from March to September 2021.
• Close loopholes for the largest and smallest employers, and expand
paid sick and family leave to help parents with caregiving
responsibilities if their schools or care center are closed.
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• Extend assistance for workers who have exhausted their regular
unemployment compensation benefits and for unemployed workers
who do not typically qualify for unemployment compensation
benefits.
• $25 billion emergency stabilization fund for child care providers to
expand access to high -quality, affordable child care.
• $15 billion through the Child Care and Development Block Grant
program for those who experienced a job interruption and cannot
afford child care.
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LASTLY
• $350 billion in emergency funding for state, local, and territorial
governments to pay front line public workers, distribute the vaccine,
scale testing, reopen schools, and maintain other vital services.
CITY OF
�. Fe d e ra I Way
AMERICAN REAS(.103JEA PIAN A(*.'..T
QUESTIONS
CITY OF
Fe d e ra I Way