Hotels, restaurants and other Overland Park businesses in the hard-hit hospitality industry will likely become the next priority to get federal help from the American Rescue Plan Act, a city council committee has decided. Council members in the six-member Finance, Administration and Economic Development Committee have given the go-ahead to begin developing a plan to spend $3 million for hospitality-related businesses that continue to struggle from losses during the pandemic shutdowns last year. That would be part of the $18 million the city has in the pipeline in Rescue Plan money. The money comes out of the $9 million the city has already received. Overland Park will get another $9 million next May. Officials now have to develop a set of criteria on who will get it. The committee decided Wednesday to work with AltCap or its subsidiary the Community Capital Fund to settle the details of administering the funds. Under federal rules, the city must obligate the money by the end of 2024 and spend it by the end of 2026.
Source: Prairie Village Post
