DENVER — On Friday morning, the Colorado Department of Local Affairs (DOLA) announced that it will allocate up to $275 million from the Coronavirus Relief Fund (CVRF) to local governments across the state.
According to DOLA, this move was made in hopes of reducing the financial impact of COVID-19.
DOLA Executive Director Rick M. Garcia said the state understands that local governments have been challenged like never before with COVID-19.
“We are resolved to provide this crucial assistance in a quick and efficient manner to those who need it,” Garcia said.
The U.S. Congress mandated CVRF as part of the CARES Act . CVRF allows local governments around Colorado to receive reimbursements for expenditures that weren’t accounted for in the most recent local government budget.
Counties, municipalities and special districts will have at least 30 days to opt in for this funding through an application on DOLA’s website . This will become available on June 3.
DOLA will announce an expedited award process for these funds in the coming days, after local governments begin opting in. Applicants will be required to “supply affirmations of spending, reporting, monitoring, and other federal stipulations,” according to DOLA. The funds will be capped based on county geographical population.
Kevin Bommer, executive director of the Colorado Municipal League, said municipalities across the state stepped up to protect their employees and keep local businesses afloat as COVID-19 hit Colorado. Now, these funds will ensure the eligible, unbudgeted expenses can be reimbursed, Bommer said.
