City Council allocated the remaining $2,551,851 of Bangor, Maine's ARPA award to infrastructure on Grandview Avenue. The goal is to attract a developer to create more housing.
After three and a half years of process, the city of Bangor, Maine has officially allocated the last of its $20,478,297 award.
City Council has allocated the remaining $2,551,851 towards infrastructure work on Grandview Avenue, in the hopes of attracting a developer to create housing there. The order directs staff to bring forth estimates and plans for approval prior to any work commencing.
The City Council declared 2024 “The Year of Housing” and stated that this allocation is towards that goal.
While the award from the U.S. Treasury has been allocated, there is still some ARPA housekeeping left to do.
- As of June 30, 2024 there is $700,619.51 left in unspent interest money earned on the ARPA funds. Per the U.S. Treasury any interest funds earned on ARPA funds do not get reported and there are no restrictions on how the funds are spent. The City Council resolved in October 2023 that any interest earned would be spent on ARPA-eligible projects.
- While the award itself has been allocated, there are some projects that have yet to get off the ground. The City of Bangor has until December 31, 2024 to re-allocate funds should it appear that original allocations aren’t going to work out. To date the City of Bangor has dispersed a little over $2 million of the $20.48 million allocated.
- Bangor has until December 31, 2026 to full expend all of the funds they have allocated. The U.S. Treasury will continue to expect to receive quarterly reports on the City’s efforts with ARPA funds.
