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News About the American Recovery and Reinvestment Act

Times of Trenton (New Jersey) - Stimulus money creates jobs
The federal government has authorized $17 million in low-cost bonds for Mercer County businesses and governments and approved a $687,500 grant to a Trenton community organization as part of the economic stimulus bill.

Under the stimulus bill, the Treasury Department is providing $10 billion in authorizations for Recovery Zone Economic Development Bonds for use by local governments.

Another $15 billion in authorizations for Recovery Zone Facility Bonds may be used by private businesses in designated recovery zones.

The programs will help local governments hurt by the reduction in available capital that has resulted from the economic recession, said Rep. Rush Holt, D-Hopewell Township.

'By providing bond authority to communities, we can foster much needed economic development and allow local governments to meet the needs of their residents,' he said in a press release. [Read More]

Memphis Commercial Appeal (Tennessee) - DeSoto County to receive $19.6M bond assistance
DeSoto County has been approved for $19.6 million in federally subsidized Recovery Zone bonds as part of the national economic stimulus package.

Rep. Travis Childers, D-Miss., announced the DeSoto allocation Monday as part of an overall $54 million in federal subsidies for bonds in Mississippi's First District.

The allocations come in two forms -- Recovery Zone Economic Development Bonds and Recovery Zone Facility Bonds.

The Economic Development bonds would allow county and municipal governments to issue bonds for infrastructure improvements, with the federal government picking up the tab for 45 percent of the interest costs.

The allocation for DeSoto County for the Economic Development bonds is $7,841,000. The allocation for DeSoto County for Facility Bonds is $11,762,000. [Read More]

Boston Globe (Massachusetts) - Massachusetts water infrastructure gets federal fund infusion
The state's water processing plants and labyrinth of drinking water and sewage pipes are getting a $185 million upgrade from federal stimulus money, US Environmental Protection Agency chief Lisa Jackson announced today.

The federal money will be used for more than 127 ready-to-be constructed projects - from a sewer extension in Acton to a water main replacement in West Springfield - and will account for 8 to 14 percent of the projects' costs. The funds are designed to create jobs and fix aging infrastructure while improving public health and the environment.

“These projects are vital to the health and vitality of communities here in Massachusetts and across the country,'' said Governor Deval Patrick.

Under the American Recovery and Reinvestment Act, some $6 billion dollars will be awarded to fund water and wastewater infrastructure projects across the country in the form of low-interest loans, principal forgiveness, and grants. [Read More]

Fort Work Star Telegram (Texas) - Fort Worth, Arlington school districts get stimulus money for food equipment
School nutrition directors in Fort Worth and Arlington have some shopping to do this summer, thanks to the American Recovery and Reinvestment Act.

Campuses in both districts will share in more than $11 million in nutrition equipment grants funded statewide by the federal stimulus package, the Texas Agriculture Department announced recently.
Fort Worth will get $563,000 to buy food processors, freezers, ovens and steamers while Arlington will get $111,000 for similar equipment.

The purchases will help cafeteria officials present healthier food options and run operations more efficiently, officials said. [Read More]

Tulsa World (Oklahoma) - Boren touts new loan program for small businesses
U.S. Rep. Dan Boren, the only Oklahoman in Congress to vote for this year's federal stimulus package, singled out a new loan program Monday designed to help small businesses hurt by the economic downturn.

Under the program, small firms could be eligible for a loan of as much as $35,000 that would not have to be repaid for a year. According to the Small Business Administration, repayment can extend for as long as five years.

Boren, a Democrat, said the loan would be interest-free for the first year. 'There are many businesses throughout eastern Oklahoma that would be viable in the long term if they could just make it through this rough patch,' he said. [Read More]

KRQE (New Mexico) - Schools to get $250 million in stimulus
Gov. Bill Richardson and Secretary of Education Veronica Garcia announced Monday that New Mexico Schools will get over $250 million from federal stimulus funds.

Much of the money will fund general operations for the 2009-2010 school year.

The money will also help fund special education programs that serve disadvantaged and homeless children. Grants for school lunch equipment will also benefit from the stimulus. [Read More]

Philadelphia Inquirer (Pennsylvania) - Phila. airport gets money for new screening steps
Philadelphia International Airport received $26.6 million in federal economic-stimulus money yesterday for construction of two new baggage-screening and explosive-detection systems.

[Governor Ed] Rendell said Pennsylvania had received more than $1 billion in stimulus money for 94 bridge, road and highway projects, 26 water-system and nine alternative-energy projects, and the start of rehabilitating 3,500 housing units.

'This is just the tip of the iceberg,' Rendell said. 'The government and people of Pennsylvania will wind up getting over $16 billion in stimulus funds that will be invested in our economy.' [Read More]

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