The Council on Metro Economies and the New American City is the economic research arm of the United States Conference of Mayors. Since its inception in 2001, The Council has published over 90 U.S. Metro Economies Reports, and continues to develop models of investment for cities, while identifying trends that will shape the cities of the future.

Senator Tim Scott (SC) Provides Mayors with an Update on Opportunity Zones

Senator Tim Scott (SC) Provides mayors with a legislative update at USCM 88th Winter Meeting

ARPA State and Local Fiscal Recovery Fund Resources:

ARPA’s State and Local Fiscal Recovery Fund (SLFRF) program provides the largest amount of direct federal aid ever to local governments. A total of $130.2 billion is currently being provided to cities and counties to use through December 31, 2024. The program will be administered by the U.S. Treasury Department. Below are resources for cities from the U.S. Department of the Treasury:

UPDATES:

July 27th, 2022: The U.S. Department of the Treasury has released updated FAQs to the SLFRF Final Rule, which include new guidance (2.14 and 4.9) on affordable housing development. The guidance takes two additional steps: (1) increasing flexibility to use SLFRF to fully finance long-term affordable housing loans and (2) expanding presumptively eligible affordable housing uses to further maximize the availability of SLFRF funds for affordable housing. Click here for the updated FAQs. Treasury has also worked with the Department of Housing and Urban Development to publish a How-to Guide for Affordable Housing.

July 1st, 2022: The U.S. Department of the Treasury has released the SLFRF Project and Expenditure Report User Guide along with the Recovery Plan User Guide. Both items are due July 31, 2022. The Project and Expenditure Report User Guide includes a Frequently Asked Questions section to address common reporting concerns.

June 3rd, 2022: The U.S. Conference of Mayors, in collaboration with the Kresge Foundation, has released a new report on cities using SLFRF funds to promote equity. Click here for the report.

April 27th, 2022: The U.S. Department of the Treasury has released updated FAQs for the SLFRF program. Click here to view.

April 22nd, 2022: April 30th, 2022 is the deadline for ARPA SLFRF Reporting. The U.S. Conference of Mayors has provided an update on the April reporting deadline with FAQs from the U.S. Department of the Treasury. Click here to view the USCM update.

April 21st, 2022: The U.S. Department of the Treasury has released guidance for local governments on the second tranche of SLFRF funding. Click the link here to view the guidance for local governments.

March 10th, 2022: The U.S. Conference of Mayors has released a new survey of mayors that shows how critical SLFRF relief funds from the American Rescue Plan Act (ARPA) are being put to use in American cities. Click here to view the survey report. 

January 18th, 2022: The U.S Department of the Treasury has released slides and video from its recent webinar on the recent release of its Final Rule for the State and Local Fiscal Recovery Funds. Click here for the webinar slides and click here for the video. 

January 6th, 2022: The U.S Department of the Treasury has released its Final Rule governing the State and Local Fiscal Recovery Fund (SLFRF), which provides $65.1 billion to All Cities under the American Rescue Plan Act.

Treasury will hold a series of webinars to describe the Final Rule and its major changes from the Interim Final Rule. The dates and registration links for these webinars (which are identical in content) are as follows:

  • January 7, 2022 at 1:00pm ET. Register here. This webinar will be recorded and shared within a few business days.
  • January 10, 2022 at 4:00pm ET. Register here.
  • January 12, 2022 at 1:00pm ET. Register here.

December 14th, 2021: Treasury has released the online Portal that NEUs who have requested funding from their state will use for reporting and compliance. Click here for more information.

November 19th, 2021: IRS Releases FAQs for states and local governments on taxability and reporting of payments from Coronavirus State and Local Fiscal Recovery Funds. Click here to view. 

August 2nd, 2021: Bloomberg’s e311 Program will host a virtual workshop on federal assistance compliance on Monday, August 2nd, at 2:00pm ET. Please click here for more information on how to participate.  Click here for slides that outline the e311 Program.

July 22nd, 2021: The U.S. Department of Commerce has announced two new competitive grant programs available to local governments to promote local economic growth and development. These are being administered by Commerce’s Economic Development Administration (EDA). These grant programs include:

  1. The Build Back Better Regional Challenge (Click here for more information)
    The $1 billion Build Back Better Regional Challenge will provide a transformational investment to 20-30 regions across the country that want to revitalize their economies.
  2. The Good Jobs Challenge (Click here for more information)
    Through the Good Jobs Challenge, EDA is allocating $500 million to collaborative skills training systems and programs. Funds may also be used to provide wrap-around services for trainees.

July 19th, 2021: The U.S. Department of the Treasury has issued updated FAQs for its Coronavirus State and Local Fiscal Recovery Funds program. There is a single update to FAQ number 1.4 on page 2. Please click here for most recent FAQs.

June 28th, 2021: The U.S. Conference of Mayors has submitted its full public comments to Treasury regarding the Coronavirus State and Local Fiscal Recovery Funds Interim Final Rule. Click here to view the Conference of Mayors’ full public comments.

June 23rd, 2021: The U.S. Department of the Treasury has released its latest round of Frequently Asked Questions for the Coronavirus State and Local Fiscal Recovery Funds. These additional FAQs relate to assistance to small businesses, improvement of outdoor spaces (such as parks), crime prevention and response, and more. The new FAQs are dated 6/23/2021. Click here to view the updated FAQs.

June 17th, 2021: The U.S. Department of the Treasury has released new guidance on Recipient Compliance and Reporting Responsibilities for the State and Local Fiscal Recovery Funds Program. Click here to view.

June 17th, 2021: The U.S. Department of the Treasury has released its latest round of Frequently Asked Questions for the Coronavirus State and Local Fiscal Recovery Funds. These additional FAQs relate to broadband development, and are dated 6/17/2021. Click here to view the updated FAQs.

June 15th, 2021: The U.S. Conference of Mayors, the City of Boston, Chicago, Los Angeles, Montgomery County (MD), and the TCCFUI have submitted joint public comments to Treasury related to the broadband infrastructure provisions outlined in the Coronavirus State and Local Fiscal Recovery Funds Interim Final Rule. Click here to view the broadband infrastructure public comments.

June 8th, 2021: Today, the U.S. Department of the Treasury released its latest round of Frequently Asked Questions for the Coronavirus State and Local Fiscal Recovery Funds.

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Council News

United States Conference of Mayors Kicks Off 90th Annual Winter Meeting

January 19, 2022|Comments Off on United States Conference of Mayors Kicks Off 90th Annual Winter Meeting

Mayors released annual U.S. Metro Economies Report, held sessions on key issues such as gun violence prevention and ARPA implementation, and met with Biden administration officials Washington, D.C.— On the first day of the United

Looking to the Future of American Cities, USCM Launches New Task Force on Electric Vehicles

December 23, 2021|Comments Off on Looking to the Future of American Cities, USCM Launches New Task Force on Electric Vehicles

Washington, DC – Today, U.S. Conference of Mayors (USCM) President Dayton (OH) Mayor Nan Whaley announced the formation of a new Conference Task Force on Electric Vehicles, reflecting the rising importance of EVs in mayors’

How the COVID-19 Federal Stimulus Bills Directly Affect Working Families

April 7, 2020|Comments Off on How the COVID-19 Federal Stimulus Bills Directly Affect Working Families

Since the onset of the COVID-19 pandemic, there have been three stimulus bills passed through Congress that have become law to provide emergency assistance to impacted Americans. The first bill, the Coronavirus Preparedness and Response

Mayors Hold Conference Call to Discuss Opportunity Zone Funds

March 4, 2020|Comments Off on Mayors Hold Conference Call to Discuss Opportunity Zone Funds

On Wednesday, February 26, mayors from across the country joined the Council on Metro Economies and the New American City to discuss Opportunity Zone Funds, and how cities can leverage Opportunity Zone Funds to develop

Conference of Mayors Releases 2020 Economic Mobility Report

January 24, 2020|Comments Off on Conference of Mayors Releases 2020 Economic Mobility Report

The United States Conference of Mayors is pleased to release its 2020 Economic Mobility Report. The report features aggregate data that focuses on the implementation and strength of economic mobility programming in our nation’s cities.

New Report: U.S. Metro Areas Continue to Drive Nation’s Economic Growth, Post Fifth Consecutive Year of Increase

September 30, 2019|Comments Off on New Report: U.S. Metro Areas Continue to Drive Nation’s Economic Growth, Post Fifth Consecutive Year of Increase

For 18th year, U.S. Conference of Mayors releases annual report, forecasts growth of cities and metro regions   Washington, D.C. – Today, the U.S. Conference of Mayors (USCM) released its 18th annual report and forecast on

Louisville Mayor Greg Fischer Announces First Opportunity Zone Investment

November 8, 2018|Comments Off on Louisville Mayor Greg Fischer Announces First Opportunity Zone Investment

On November 5th, Louisville Mayor Greg Fischer announced one of the city's first Opportunity Zone investments by the Marin Group. According to the city, the new project will expand Blacksmith Iron Works, a fabrication and custom

U.S. Treasury/IRS Publish Proposed Regulations on Opportunity Zones

November 1, 2018|Comments Off on U.S. Treasury/IRS Publish Proposed Regulations on Opportunity Zones

On October 29, 2018 The U.S. Treasury published its first set of proposed regulations governing  Opportunity Zone tax incentives. Comment deadline on the proposed rules is December 28, 2018, and a public hearing is scheduled

The Council on Metro Economies and the New American City is supported by:

  • The Aspen Institute
  • Bank of America
  • Economic Innovation Group (EIG)
  • Interise
  • The Kresge Foundation