This week, the U.S. Department of Treasury (Treasury) released guidance for the Coronavirus Capital Projects Fund (CPF) program established by the American Rescue Plan Act. This $10 billion program allocates funds for local governments to carry out critical
capital projects, including investments in high-quality, affordable broadband infrastructure and other digital connectivity technologies.
Treasury’s guidance provides information about eligible areas for investment and technical standards, encourages projects in economically distressed areas, supports community empowerment, and encourages strong labor practices. The CPF program is
not a competitive grant program; instead, local governments must first submit a simple application establishing their eligibility. For details of how your city may access their allocation of the Capital Project Fund, click here.
In anticipation of releasing these funds, Treasury will make several resources available to assist eligible governments in accessing CPF funds. This includes webinars, information sessions, and points of contact in the CPF contacts.
To learn more about the Capital Project Fund, including specific allocations, please visit Treasury’s website found here.
To receive updates on Treasury’s COVID-19 Economic Relief programs, please sign up here.