Town reports 63 ARPA small‑business applicants; $670,000 of CARES/ARPA‑era funds available for cobbling awards

Town Manager Lupe Martinez told the council the town received 63 applications to an ARPA small‑business program and asked the council to provide direction on how much funding the town should allocate to awards.

Martinez explained the town’s local fiscal recovery allocation (ARPA) had been accounted for as revenue replacement in an earlier DFA reporting step; the town then placed the funds into a distinct ARPA fund and a current, unofficial ending cash balance in that fund was $670,000.72. She said staff are now conducting a phase‑2 review of applicants to collect supporting documentation before awards are made.

Martinez provided examples of award‑scenarios for council consideration: if all 63 qualified applicants received $3,500 each the total would be $220,500; at $6,500 each the total would be $409,500; at $10,000 each the total would be $630,000. She said seven other applicants missed the application deadline and would be retained for future opportunities.

Martinez also summarized a separate but related source, Fund 56 (previously a GRT bond fund), which has historically been used for affordable housing and receives short‑term rental permit revenue; she noted investment earnings and prior grants administered from that fund but did not recommend a specific housing appropriation at this meeting.

Council members asked staff to return with a recommendation after the phase‑2 documentation review so that award amounts can be communicated to applicants. Martinez said she would present a formal proposal for council action at a future meeting and will include the fund history and options for award levels.