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Authorizing the Fiscal Stability and Intergovernmental Cooperation to hold ongoing hearings regarding the City of Philadelphia's Coronavirus Recovery Plan including, but not limited to, ongoing applications for, and receipt of all recovery dollars, spending plans, and decision making around the recovery process and its impact on the City of Philadelphia's FY2021 budget and Five-Year plan.
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WHEREAS, The Coronavirus (Covid-19) pandemic has created an unprecedented economic crisis in Philadelphia and across the world; and
WHEREAS, Following the shut-down of businesses, the federal government, state government, and other organizations began new programs to assist municipalities in dealing with some of the costs of the downturn. These funds are crucial for keeping Philadelphia and its citizens afloat as Covid-19 continues in 2021; and
WHEREAS, In 2020, Congress passed the CARES Act, created the Paycheck Protection Program ("PPP"), funded supplemental unemployment insurance through July, sent dollars directly to cities with over 500,000 residents, and sent dollars to states for distribution to municipalities. While the City does not control PPP and unemployment funds, it has received CARES funds from both the federal and state governments; and
WHEREAS, The CARES Act and other recovery dollars are distributed under a complex system of frequently changing rules at all levels of government. The City of Philadelphia must closely and transparently monitor incoming funds and how they are prioritized and spent in an effort to sustain important government operations and the communities we serve; and
WHEREAS, City Council's Fiscal Stability and Intergovernmental Cooperation Committee hearings will allow the City's internal processes to be made more transparent and ensure that all funds are being captured and used for the greatest good. For FY21, the City set aside a placeholder for recovery funds and City Council must continue to oversee the achievement of that ...
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