Laserfiche WebLink
REQUEST: <br /> This contract deploys $500,000 from the City of Decatur's American Rescue Plan Act <br /> (ARPA) allocations. State and Local ARPA funds must be used to respond to or mitigate COVID- <br /> 19 or its negative economic impacts; cover costs incurred because of the emergency; or <br /> replacement revenue that was lost, delayed, or decreased because of the emergency.'Across <br /> the country,families, households, and individuals lost income, stability, and their health. <br /> Financial hardships caused by the COVID-19 pandemic hit low-and moderate-income families <br /> especially hard due to widespread job loss and reduction in hours.2 Opportunities for low- <br /> income households to save money has been especially difficult during the pandemic.1 This <br /> means that the American dream of homeownership will continue to be just that—a "dream"— <br /> for many residents that feel left behind unless we start crafting programs like the one <br /> proposed. <br /> According to a recent Housing Market and Real Estate Feasibility Analysis from Teska <br /> Associates, over 40%of the City's renters face extreme rent burden—which is far higher than <br /> the state average. Some of the same households paying high rent could have a lower monthly <br /> payment and actually own a home. New tools in the toolbox are needed to break the cycle of <br /> disinvestment in Decatur and this pilot is a step in the right direction to address the historic <br /> racism and redlining that resulted in the blight we see today. <br /> 1 Carrie J.Cecil,Laura H.Theilmann,Michael D.Elliot,Denise Y.Barkdull."You Received ARPA Funds:Now What?".Frost, <br /> Brown,Todd Attorneys LLC.June 3,2021.https://frostbrowntodd.com/you-received-arpa-funds-now-what/ <br /> Z Michael Karpman,Dulce Gonzalez,Genevieve M.Kenney."Parents Are Struggling to Provide for Their Families during the <br /> Pandemic".Urban Institute.May 21,2020.https://www.urban.org/research/publication/parents-are-struggling-provide-their- <br /> families-during- <br /> pandemic?utm source=urban researcher&utm medium=email&utm campaign=covid parents&utm term=lhp <br /> 3 Kim Parker,Rachel Minkin,Jesse Bennet."Economic Fallout from COVID-19 Continues to Hit Lower-Income Americans the <br /> Hardest".Pew Research Center.September 24,2020.https://www.pewresearch.org/social-trends/2020/09/24/economic- <br /> fallout-from-covid-l9-continues-to-hit-lower-income-americans-the-hardest/ <br />