Wilmington got $26 million from the American Rescue Plan, but hasn't yet finalized spending plans
The city of Wilmington will receive nearly $26 million from the American Rescue Plan. But plans remain vague for how it will be spent.
The city received the first half of its ARP money on June 1st: a total of $12.9 million. It will get an equal amount next year in May.
The funding has some strings attached: The city can only spend the money on specific things outlined in the Rescue Plan legislation. And the feds have not yet provided final guidelines.
Deputy City Manager Jennifer Maready said, “These funds provide a substantial infusion of resources to help turn the tide of the pandemic, address the economic fallout, and lay the foundation for a strong and equitable recovery.”
What we do know is that $7.3 million has been allocated to the convention center fund, in order to make up for lost parking and room occupancy revenue. Another $300,000 is going to the parking facilities fund for similar reasons.
How the remaining $18 million will be spent will be determined once the Federal guidelines are finalized sometime after July of this year. The city has to allocate the full $25.9 million in funding by the end of 2024, and has to finish all projects by the end of 2026.