RAPID CITY, S.D. (KEVN/KOTA TV) – Rapid City will get federal funds to help in its fight against the coronavirus.
According to a release from the city, they will receive a community development block grant of $307,390 through the CARES Act.
Exactly when and how this money will be used has not been determined yet. The city needs more guidance from the U.S. Department of Housing and Urban Development before announcing the timing and distribution of the funds, according to the release.
Rapid City will identify community needs along with funding gaps that may be addressed using the CDBG funds. This week’s Legal and Finance Committee agenda includes a pair of items establishing expedited procedures and provide certifications to amend plans for use of awarded funds and to administer the grant funds.
CDBG CARES Act funding cannot be used when other resources such as FEMA, SBA, or insurance are available.
“This is great news for the city and we plan to use the funds to address impacts from the COVID-19 pandemic,” said Ken Young, city Community Development director. “We are reviewing our options for distributing the funds.”
The Coronavirus Aid, Relief, and Economic Security Act – or CARES Act – is stimulus legislation enacted to combat the impacts of coronavirus crisis on individuals, businesses and communities. The act provides $2 trillion in funds for Americans, $377 billion in federal loans to small businesses and established a $500 billion government lending program for struggling companies. The act also sends $100 billion to hospitals across the country battling COVID-19.
