Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Town reports full obligation of ARPA allocation; $14.5M award largely spent or under contract
Summary
Finance director briefed council on the status of the town’s $14.5 million ARPA award: as of Dec. 31, 2024 the town had spent $7.6 million and put the remaining $6.9 million under contract, earned over $1 million in interest (now under contract for a culvert repair), and set a completion deadline of Dec. 31, 2026 for all projects.
Sam Sanchez, the town’s finance director, updated the council on Wake Forest’s American Rescue Plan Act (ARPA) program and reported the town met the Treasury’s deadline for obligating funds by Dec. 31, 2024.
Sanchez said the town was awarded $14,500,000 in ARPA funds, received in two tranches, and as of Dec. 31, 2024 had either spent $7.6 million or placed $6.9 million under contract. He said the town had earned “over a million dollars” in interest on the ARPA balance and that those interest earnings have been allocated to cover project overages; the remaining interest was placed under…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
