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#22-02 - Authorizing the Submission of the 2022 American Rescue Plan Act Travel, Tourism, and Outdoor Recreation Economic Development Administration Matching City of Valdez Funds Grant
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SUBMITTED BY: Nicholas Farline, PRCS Director
FISCAL NOTES:
Expenditure Required: $3,165,918 ($2,532,734.34 grant funds, if awarded, plus $633,183.58 city match
Unencumbered Balance: N/A
Funding Source: TBD - Projects Budget
RECOMMENDATION:
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Approve the EDA grant submission and matching funds if awarded
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SUMMARY STATEMENT:
The Economic Development Administration (EDA) requires that the local governing body as part of the application process approve a resolution of support for the EDA Travel, Tourism and Outdoor Recreation competitive grant. This is a matching grant program, which will require the City of Valdez to provide matching funds of 20% if awarded.
Below is from the Notice of Funding Opportunity (NOFO) (attached):
Funding Opportunity Description: Subject to the availability of funds, awards made under this NOFO will help communities ad regions devise and implement sustainable economic recovery strategies through a variety of non- and construction projects to respond to damage to the travel, tourism, and outdoor recreation sectors from the coronavirus pandemic and to promote the economic resilience of regions dependent on those industries.
U.S. EDA updated Investment Priorities on 04/14/2021 (attached). The top two listed priorities are Equity and Recovery & Resilience. The Entrance Project addresses Equity for this application so that the park is open and accessible to as many members of the community of Valdez and visitors as possible. Recovery & Resilience is addressed in the project application by increasing outdoor recreation opportunities for the community and visitors of Valdez. This project will help the City of Valdez build resilience to and long-term recovery from future economic shocks.
City of Valdez has engaged the servic...
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