Impact
WARD / COUNCILMEMBER: City Wide
$ IMPACT:
Title
Approval of the Intergovernmental Agreement between the City of Smyrna and Cobb County for CARES Act Funding in the amount of $2,968,559.10 for necessary expenditures incurred due to the COVID-19 pandemic and to allow the Mayor to execute all related documents.
Body
ISSUE AND BACKGROUND:
Cobb County received funding from the federal Coronavirus Relief Fund as an eligible unit of local government. Under U.S. Department of Treasury guidance, the County may transfer funds to other local governments within Cobb County provided that the transfer qualifies as a necessary expenditure incurred due to COVID-19 and meets the other criteria of section 601(d) of the Social Security Act. The Governor of Georgia sent a letter to Cobb County encouraging it to allocate funds to the cities within Cobb County on a per capita basis and Cobb County has agreed to do so. The total amount of funds allocated to Smyrna is $2,968,559.10. Half of this sum, $1,484,279.50 will be paid as an advance and the other half will be paid as a reimbursement for eligible expenses. The agreement provides that the funds may only be used to cover those costs that:
(a) are necessary expenditures incurred due to COVID-19;
(b) were not accounted for in the budget most recently approved as of March 27, 2020 for the City;
(c) were incurred during the period that begins on March 1, 2020 and ends on December 30, 2020.
This Intergovernmental Agreement between the City of Smyrna and Cobb County covers the allocation and use of funds and related matters and this allocation will help the city better cope with the Covid-19 Pandemic.
RECOMMENDATION / REQUESTED ACTION:
Approval of the Intergovernmental Agreement between the City of Smyrna and Cobb County for CARES Act Funding in the amount of $2,968,559.10 for necessary expenditures incurred due to the COVID-19 pandemic and to allow the Mayor to execute all related documents.