Denver To Receive $308M In Rescue Plan: Survey, Townhalls Planned – Patch.com

The city has also proposed a $400 million General Obligation Bond to fund job-creating infrastructure projects. The combined funding would support residents and industries hit hardest by the pandemic, revitalize businesses, create thousands of higher-paying jobs and stimulate the economy through infrastructure and workforce development, the city said. The General Obligation Bond will require City Council referral and voter approval.

Denverites are asked to take a series of surveys on their top priorities for the funding, which can be found here. The city has also planned four virtual townhalls:

City officials will call Denver households, but residents are encouraged to register ahead of time here to receive a call. Denverites can also dial in to a meeting:

Don't miss the latest news updates in Denver: Free Denver Patch Newsletters and Email Alerts | Facebook | Twitter

"We intend to get our economy moving again, build back better and sustain this recovery, especially for those workers and businesses in sectors that will be foundational to our success in the wake of this pandemic," Mayor Michael Hancock said.

"Engaging our residents to help determine what will be included in this package and where funding will be directed will help us to make the broadest impact across our city not just over the next several months, but for years into the future."

The economic recovery strategy focuses on community and business supports as well as infrastructure investments to rebuild Denver's economy in a way that is equitable, sustainable and supports communities most impacted by the pandemic, city officials said.

"Residents know what resources will have the greatest impacts for them and their neighborhoods," said Stacie Gilmore, Denver City Council president.

"We want to hear how the community, especially those hit hardest by the pandemic, would prioritize stimulus recovery dollars. It is crucial that we are intentional during this process about reaching and listening to diverse perspectives to achieve an equitable, long-term recovery plan."

The General Obligation Bond would fund capital infrastructure projects across the city, officials said. For every $10 million spent on construction, 130 jobs are created, which results in $20 million in economic activity, according to the city.

The city will convene a diverse group of stakeholders to serve on a Stimulus Investment Advisory Committee, which will review public, agency, and City Council feedback, and use the community's guidance to inform potential funding proposals, officials said.

The General Obligation Bond will have an additional stakeholder committee which will use the public feedback to identify infrastructure projects that best meet the goals and desires of the community to create sustainable economic recovery, the city said.

The emergency funding for local governments was established by the American Rescue Plan Act of 2021. The funds are meant to be used to respond to acute pandemic-response needs, fill revenue shortfalls among state and local governments, and support the communities and populations hardest-hit by the COVID-19 crisis, according to the U.S. Department of the Treasury.

The rest is here:

Denver To Receive $308M In Rescue Plan: Survey, Townhalls Planned - Patch.com