Infrastructure Funding Update
Over the past several weeks, Commonwealth has been closely monitoring federal actions that may benefit Hoosier cities and towns during this difficult time. In late March, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law. Among its many provisions, the law includes significant funding for the Community Development Block Grant program and the Economic Development Administration. Last week, the House and Senate passed additional legislation to assist small businesses and their employees and provide funding for hospitals and testing. Throughout this period, leaders in Washington, D.C., and around the country have emphasized the need for additional funding for public infrastructure projects as a stimulus to our economy.
Commonwealth is dedicated to ensuring our partner communities are well-positioned to obtain this funding, both existing and anticipated near future should it become available. Our experience in the aftermath of the passage of the American Reinvestment and Recovery Act (ARRA) in 2009 taught us you must have completed planning to take advantage of grant opportunities for your “shovel ready” projects. If you have not already identified your community’s infrastructure priorities, we recommend you have these important conversations now.
Commonwealth is closely following developments to keep our partner communities informed. We stand ready to assist you with your planning needs in preparation for these potential opportunities.