Money from the federal government will help the City of Anacortes with its recovery from the COVID-19 pandemic.
The city received almost $2.9 million to be spent by the end of 2024 from the American Rescue Plan Act.
The money comes as a revenue replacement to help cover money the city would have brought in had the pandemic not happened, city Finance Director Steve Hoglund said during the Oct. 4 City Council meeting.
The city’s 2020 revenues were reported at $39.3 million, he said. A revenue loss calculator from the Municipal Research and Services Center used data from 2017-2020 to estimate what revenues would have been without the pandemic, Hoglund said. That number ended up at $42.7 million.
The City Council has been talking about the money for multiple meetings and Oct. 11 signed an ordinance regarding the city’s use of the funds.
One of the ways this money can be used, according to the federal government, is for broadband, Hoglund said.
The city is already spending money on its fiber project, so using the American Rescue Plan Act money on the fiber project frees up money in the general fund for other projects, he said.