The $150 billion Coronavirus Relief Fund (CRF) was established over two years ago, making funding available to local governments with populations over 500,000, tribal governments, and U.S. territories to cover COVID-19-related expenses. Tidal Basin appreciates that navigating the CARES Act has been cumbersome while responding to natural and man-made disasters. It is crucial to understand not only how to access the funding but how to allocate the funding appropriately so as not to duplicate benefits.
Tidal Basin supports state and local governments through the pandemic, giving our clients a comprehensive overview of available funding, program requirements, and best practices in program management. We are currently supporting clients in Department of Treasury funded Emergency Rental Assistance Programs (ERAP), Homeowner Assistance Fund (HAF) programs, and large-scale vaccination efforts.
ARPA Global Match
The American Rescue Plan Act of 2021 (ARPA) authorizes economic adjustment assistance to address and offset necessary expenses for responding to economic injuries caused by Coronavirus (COVID-19). Economic injury causes bi-directional harm, meaning a financial injury to an individual affects their ability to pay fees and taxes that fund services. Consequently, diminished governmental services affect the individual’s safety and well-being. Integrating federal resources is not always an easy task. Program rules vary among federal agencies, and tension and uncertainty can arise among federal, state, and local partners. Additionally, the administrative burdens mandated by differing federal grants can create roadblocks due to conflicting interpretations of rules, redundancies in documentation, and actual incompatibilities.
Tidal Basin understands the global match environment and engages partners to overcome typical “pitfalls” through effective dialogue, the use of correct technical language with each partner, and careful oversight of the calculations being used to credit and debit global match accounts.