Greater Louisville Inc.: Louisville Metro Budget, ARPA Funding Proposals Announced

Louisville KY

05 May, 2022

2:13 PM

Description

Press release from Greater Louisville, Inc.: May 2, 2022 On Thursday, Mayor Greg Fischer delivered his twelfth and final budget address to the Metro Council proposing a $1.3 billion budget for Metro Louisville for the upcoming fiscal year. This comes after an announcement from the Mayor and a bi-partisan group of Metro Councilmembers on Tuesday proposing a fourth round of American Rescue Plan Act (ARPA) funding for Louisville. The 2022-2023 budget represents an increase over the $1.1 billion total from the previous year, bolstered by an boost in general fund dollars and significant funding from federal, state, and other sources. Highlights of the Mayor's budget proposal include: In addition to these priorities, the proposal includes a $343 million capital budget which includes investments for the Kentucky Trails exhibit at the Louisville Zoo and Phase IV expansion of Waterfront Park. $30 million is also set aside to provide the local match as Louisville plans to compete for federal grants available through the Infrastructure Investment and Jobs Act as Louisville. The Louisville Metro Council will review the Mayor's proposed budget hearings with all Metro departments over the next two months. A complete schedule of the Metro Council budget hearings can be found here. The Metro Council will make changes and adopt the final budget for the 2022-2023 fiscal year at the Metro Council meeting on June 23, 2022. Fourth round of ARPA spending proposed On Tuesday, Mayor Greg Fischer was joined by a bi-partisan group of Metro Councilmembers to announce a proposal for $87.4 million of Louisville's remaining American Rescue Plan Act (ARPA): $53 million in ARPA funding would remain of the $388 million allocated to Louisville if the current proposal is approved. Metro officials have stated that the focus on remaining funds will be on workforce development and they hope to have a proposal by the end of November. This press release was produced by Greater Louisville, Inc.. The views expressed here are the author's own.