RTD expects to receive $232 million through CARES Act
RTD has received word that the agency can expect to receive $232,253,946 through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed by President Donald J. Trump on March 27.
The funds in the federal stimulus package require no local match, and can be used for expenditures from Jan. 1, 2020, forward, with a desire that they be used as soon as possible. The funds are expended on a reimbursement basis, meaning they will be reimbursed once they are spent.
The funds can be used for any operations costs associated with COVID-19, including salaries and expenses related to protective equipment and cleaning supplies.
“We owe a big thank you to our Congressional delegation, our FTA partners, our peers from APTA who lobbied hard for these funds, and our federal boots-on-the-ground in Washington – our partners from Squire Patton Boggs,” said RTD’s interim General Manager and CEO, Paul Ballard. “We appreciate everyone’s hard work. These funds will help us in a big way as we navigate the COVID-19 crisis.”
To read a news release about the CARES Act sent today by the Federal Transit Administration, click here.