Calabasas Could Receive $4.5 Million In Stimulus Grant

Calabasas CA

15 March, 2021

11:48 PM

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CALABASAS, CA — Calabasas may receive up to $4.5 million in grants from the recently passed stimulus bill, according to a report in the League of California Cities. The $1.9 trillion American Rescue Plan Act provides $360 billion to municipalities across the country, and California cities will be splitting up $16 billion of that based on population, according to the Los Angeles Times. The city of Los Angeles is expected to receive a $1.35 billion windfall, which would more than close the $750 million budget gap it's incurred since the pandemic began a year ago. The roughly $3,806,409 in grants will be provided in two increments: half will be awarded in roughly two months, and the second half will come a year after that, according to Calabasas Mayor James Bozajian. "As your Mayor, I am very pleased that we will be receiving this much-needed economic boost," Bozajian said in a statement, calling the possible windfall "certainly the largest [grant] of its kind that Calabasas has ever received." "Whether you support or oppose what transpired, we are now receiving the money and will put it to good use." The city is still far from determining how the money will be spent, a city spokesperson told Patch. For the fiscal year 2020-21, the city's total revenue amounted to $52,574,048, while its total expenditures were $56,318,753, so any extra revenue will help. The CARES Act signed by former President Donald Trump a year ago included $150 billion in state and local aid, but that money could only be used for pandemic response, and was only awarded to cities with at least 500,000 residents. The current bill, meanwhile, gives cities wide latitude in how they choose to spend that money. Around the Conejo Valley, Calabasas is expecting $4,489,805; Westlake Village is expecting $1,546,670, Thousand Oaks is expecting $14,408,461, and Malibu is expecting $2,224,856. Across the state, major cities like San Diego are expecting $306,114,516, while San Francisco may receive $464,980,918. For a full list of preliminary estimates, see this list created by the League of California Cities, an organization that lobbied hard for direct money for municipalities.