On Thursday, Guam Congressman Michael San Nicolas, in a virtual conference, was discussing the possible reasons Guam hadn’t received its American Rescue Plan Act funds yet.
On Friday afternoon, the island finally received the long-awaited first installment of those funds.
The governor’s office issued a news release announcing the receipt of $553 million in funding from the American Rescue Plan Act, also known as ARPA.
The funds are part of the state allocation of ARPA funds. Other allocations are slated to be disbursed to the island at a later date.
Those allocations are the county allocation, the Capital Projects Fund, and the allocation for non-entitlement units.
Non-entitlement units are for communities that have a population of less than 50,000 people.
Guam is eligible, since every village on Guam, falls below the population limit.
Once all allocations are received, the total funding from ARPA will add up to about $604 million dollars.
Last week, the U.S. Treasury released the Interim Final Rules for ARPA funds. The rules determine what the funding can and can’t be used for.
The rules carry the interim designation because they’re still in the comment and feedback period.
The governor said her staff continues to examine the interim guidance and is assessing their plans so they’ll be prepared when the guidance is finalized.
Lieutenant Governor Josh Tenorio said that Guam’s improved fiscal outlook now provides the island with a stable foundation to rebuild a thriving economy.
He said the ARPA funds will be dedicated to the island’s long-term growth to realize a prosperous future.