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Council designates ARPA investment interest for Sportsplex; measure passes 4-1
Summary
Council voted 4–1 to designate interest earned on federal ARPA funds to the Sportsplex project after staff said the ARPA final rule allows interest to be used without the same spending restrictions as ARPA principal.
The Decatur City Council voted 4–1 to designate interest earned on the city’s American Rescue Plan Act (ARPA) funds to the Sportsplex project.
Staff told the council the city received $10,883,767 in state and local fiscal recovery funds and that those funds had earned about $1 million in interest to date. Under the ARPA final rule, staff said, investment interest is not subject to the same restrictions as the ARPA principal, and the council must designate a revenue source for the interest earned.
"Since the Sportsplex needed some additional funding, that’s why we suggested it," a city staff presenter said. Councilmember Pepper moved to approve the designation, and Councilmember Pike seconded. A recorded roll call produced four aye votes and one no vote.
One councilmember said they had opposed the Sportsplex project from the beginning and cited concerns including traffic; that member voted against the designation. The motion carried and the council approved the designation of ARPA investment interest to the Sportsplex project.
