This morning, Governor Mike Dunleavy expedited the release of the remaining $20 million in federal CARES Act funding for the Municipality of Anchorage. The intent is to have the funds distributed to Anchorage based businesses during the Municipality of Anchorage’s Emergency Order 16 that goes into effect tomorrow, Tuesday, December 1.
“Anchorage businesses, particularly the hospitality industry, are about to enter an exceptionally difficult time that will trigger an overwhelming need for financial relief to meet payroll and keep the doors open during the holiday season,” said Governor Dunleavy. “I respectfully encourage the members of the Anchorage Assembly and Acting Mayor Quinn-Davidson to take this opportunity to use the CARES Act funds for their highest and best purpose.”
Guidance from the Unites States Department of Treasury states that CARES Act funds must be expended or encumbered before December 30, 2020. The Governor’s action is predicated on the understanding that Alaska’s largest community is positioned to expend the funds already allocated to it for emergency use prior to the federal deadline.
“With the release of this third payment, Anchorage will have received a total of $156 million of Alaska’s CARES Act funds, said DCCED Commissioner Julie Anderson. “I commend Governor Dunleavy’s decision to waive the 80th percentile spending requirement for Anchorage and believe the third payment of $20 million can provide significant relief to the businesses that have been shut down as a result of Emergency Order 16 in Anchorage.
A final determination on how the funds are distributed will be made by the Anchorage Assembly and the mayor’s office.