Originally posted at KOAA / NewsChannel 5:
EL PASO COUNTY — President Joe Biden signed the $1.9 trillion stimulus package back in March, which includes $350 billion for state and local governments across the country they will be able to use in several ways to come out of the pandemic.
The U.S. Department of the Treasury released the allocations and spending guidelines for the $5.7 billion that will be headed to Colorado and its local governments as part of the American Rescue Plan (ARPA).
Many counties and municipalities are still deciding what they will do with the money, but El Paso County leaders recently released plans on how they plan to spend the funds they receive.
In total, El Paso County is receiving nearly $140 million dollars from the American Rescue Plan. The money will come in two waves, half this spring and the other half around this time next year.
“I really appreciate that as El Paso County, we work hard to abide by our conservative principles. This is a lot of taxpayer dollars, and the first question we ask is how we can get it right back into their pockets, said Holly Williams, El Paso County Commissioner District 1. “This is a lot of money coming out of the federal government that someday our kids will have to pay for. We want to assure the public that this money is spent correctly, that we account for every penny, and at the end of the day, it is audited. We are very conservative and careful in the administration of this money.”
The county will have until the end of 2024 to use the funds. Funds allocated to large projects by 2024 can be spent on projects finished by the end of 2026.