Title
Receive a presentation from the National Development Council (NDC) on the American Rescue Plan Act (ARPA) Comprehensive Economic Development Strategy (CEDS).
Report
RECOMMENDATION:
It is recommended that the Economic Development Committee receive a presentation from the National Development Council (NDC) on the American Rescue Plan Act (ARPA) Comprehensive Economic Development Strategy (CEDS).
SUMMARY:
On June 2, 2021, the Board approved ARPA funding allocation for Economic Recovery. In total the County has allocated $9.6 million ARPA funds towards economic endeavors which are required to be utilized within the next three years or be subject to return. One of the projects identified by the Board of Supervisors be conducted with ARPA funds is the CEDS annual update.
In 2021, Monterey County updated their 5-year CEDS for U.S. Department of Commerce Economic Development Administration (EDA) acceptance. The update engaged many new stakeholders to an economic development strategy but was limited in developing more detailed strategies and projects. The CEDS was adopted by Monterey County and ratified by every jurisdiction in the County. In establishing yearly updates, the County can engage stakeholders in further detailing those priority strategies and using the work for EDA funding applications as well as California economic development resources.
The Monterey County CEDS requires an annual update on projects. NDC was instrumental in assisting the County with updating its 5-year CEDS and was awarded the bid to aid in the annual update to the CEDS for FY2022-23.
OTHER AGENCY INVOLVEMENT:
Staff consulted with County Counsel.
FINANCING:
Receiving this report has no financial impact.
Prepared by: Isela Sandoval, Management Analyst II, x7214
Approved by: Richard Vaughn, Economic Development Manager, x5602
Attachments:
NDC PowerPoint