FAIRBANKS, Alaska (KTVF) On Monday, the Fairbanks City Council unanimously passed a resolution outlining how the city’s allotment of $16 million in federal CARES Act funds will be distributed.
The City anticipates grant applications to roll out at the beginning of July. (Storyblocks)
According to the resolution, which can be read in its entirety here, the funds will be allotted in the following ways:
• Approximately $1 million for direct expenses and administration costs
• $5.25 million for medical facilities
• $5.25 million for businesses
• $4.5 million for individuals and families
The funds will be disbursed as grants, meaning that recipients are not obliged to pay them back, assuming they adhere to the terms of the grant.
Grants for individuals will be handled by Love, Inc, while small business grants will be handled by First National Bank Alaska. These organizations were awarded contracts from the City after a request for proposal (RFP) process.
“The goal right now is the first of July, to have those applications go live,” says City Chief of Staff Mike Meeks. He says that the applications are currently being tested by the City.
“The goal is to have it all disbursed by the end of July.” Meeks acknowledges that these goals are “very aggressive”. “It’s a goal,” Meeks says. “If we’re finding that one is not moving that quick, we’ll do some reassessment.”
Meeks says that the organizations were selected the same way the City would handle any RFP bid. Cost, Meeks says, as well as services provided were taken into consideration. The City’s million dollar allotment of funds will be used to pay these costs.
Meeks says he expects the City will be audited at some point to ensure that the funds have been paid. Because of this, they are taking steps to ensure that only qualifying applicants receive grant money. This includes providing relief for expenses incurred during the COVID-19 crisis.
"We're not going to go back and pay a mortgage [from] a year ago,” Meeks says. “So we're going to be focusing on those dates, what documented expenses can you prove that you had during this time period?"
Applicants can expect to provide paperwork along the lines of utility bills, mortgage or rent, and other such expenses.
When it comes to businesses, Meeks says there's no "double dipping" if they have already received aid from the state or the federal government. However, if the business did not receive adequate financing, Meeks says to produce that information as well, and the City will assess these situations.
Grants for medical facilities are being directly handled by the City.
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