File #: 21-0216    Version: Name:
Type: City Resolution Status: Passed
File created: 3/24/2021 In control: Special Concurrent Meeting of the Oakland Redevelopment Successor Agency/City Council
On agenda: 3/29/2021 Final action: 3/29/2021
Title: Subject: Emergency Reserve And American Rescue Plan Act Funds From: Council President Fortunato Bas And Vice Mayor Kaplan Recommendation: Adopt A Resolution: (1) Directing The City Administrator, In Consultation With The City Attorney, To Explore, And Bring Back To Council, Options For Providing Additional Protections For The 7.5% General Purpose Fund (“GPF”) Emergency Reserve, Including But Not Limited To The Creation Of A Separate Fund For The GPF Emergency Reserve; And (2) Clarifying That No Expenditure Of The American Rescue Plan Act (“ARPA”) Funds, Which The City Expects To Receive In The Estimated Amount Of One Hundred Ninety-Two Million Eighty-Four Thousand One Hundred Five Dollars ($192,084,105), Shall Be Made Except For The Purpose And In The Manner Specified By The City Council Following A Public Process And Public Vote Pursuant To Charter Section 806
Attachments: 1. View Report, 2. View Legislation, 3. 88569 CMS

Title

Subject:                     Emergency Reserve And American Rescue Plan Act Funds

From:                                           Council President Fortunato Bas And Vice Mayor Kaplan

Recommendation: Adopt A Resolution: (1) Directing The City Administrator, In Consultation With The City Attorney, To Explore, And Bring Back To Council, Options For Providing Additional Protections For The 7.5% General Purpose Fund (“GPF”) Emergency Reserve, Including But Not Limited To The Creation Of A Separate Fund For The GPF Emergency Reserve; And (2) Clarifying That No Expenditure Of The American Rescue Plan Act (“ARPA”) Funds, Which The City Expects To Receive In The Estimated Amount Of One Hundred Ninety-Two Million Eighty-Four Thousand One Hundred Five Dollars ($192,084,105), Shall Be Made Except For The Purpose And In The Manner Specified By The City Council Following A Public Process And Public Vote Pursuant To Charter Section 806