Leveraging SLFRF Funds for Long-Term Community Resilience: A Case for Investing in CRS Hub

Leveraging SLFRF Funds for Long-Term Community Resilience: A Case for Investing in CRS Hub

The Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program, established under the American Rescue Plan Act (ARPA), has provided a substantial $350 billion grant funding to support state, territorial, local, and Tribal governments in their response to and recovery from the COVID-19 pandemic.

Designed to address the public health emergency and its economic fallout, the SLFRF program allows for a wide range of eligible uses, including premium pay for essential workers, investments in infrastructure like water, sewer, and broadband, and the replacement of lost public sector revenue.

Similar to what we saw during the CARES Act (under the “presumption” rule), many applicants are leveraging one of the U.S. Department of Treasury’s rulings that minimize the administrative burdens with this grant program; specifically, the ability to elect a “standard allowance” up to $10 million dollars of the applicant’s award towards “revenue loss” - even if they had no revenue loss as a result of the COVID-19 pandemic.  

In doing so, applicants have broad flexibility to use these funds towards traditional “government services,” not just those eligible uses expressly authorized under APRA (e.g. premium pay for those performing essential work, cost to support public health and economic response, water, broadband, etc).

This brings us to the Timbalier Resources CRS Hub—a strategic initiative aimed at enhancing community resilience in the face of increasing flood risks.

The CRS Hub offers local communities an opportunity to invest in long-term resilience by facilitating their participation in FEMA's Community Rating System (CRS). This voluntary program incentivizes communities to adopt robust floodplain management practices, leading to discounts on flood insurance premiums for residents.

As FEMA implements Risk Rating 2.0, insurance premiums are expected to increase for over 70% of policyholders.  Disadvantaged communities, particularly those in flood-prone areas, will bear a disproportionate burden from this actuarial adjustment.  The importance of bolstering community resilience cannot be overstated.

With the deadline to obligate SLFRF funds approaching, communities have a unique opportunity to invest in initiatives like the CRS Hub that promise long-term benefits. By reducing barriers to entry into the CRS and strengthening floodplain management practices, communities can mitigate the impacts of future disasters and foster a more resilient future for all residents.

As we navigate the complexities of recovery from the pandemic, let's seize this moment to invest in initiatives that not only address immediate needs but also lay the foundation for a more resilient and equitable tomorrow.

Take action now and invest in resilience—let us build a tomorrow that is more secure, sustainable, and resilient for all. Contact Timbalier Resources to learn more about how the CRS Hub can be a transformative force for your community's future.

About Timbalier Resources, LLC: With expertise and services including legal support, land acquisition, infrastructure grants, and customized technology, Timbalier Resources serves as a strategic partner in large-scale infrastructure projects. From streamlining property acquisition to navigating the competitive grant landscape with a unique blend of policy expertise and advanced technology, Timbalier drives progress in infrastructure development. From humble legal beginnings to becoming a technology-driven consultancy, Timbalier remains dedicated to ensuring optimal outcomes for every project it undertakes.