Tennessee will reallocate funds not spent from $3.7B of federal recovery funds
Published 12:34 pm Friday, July 12, 2024
Tennessee will have agreements in place before the Dec. 31 deadline for all $3.7 billion of its federal American Rescue Plan funds.
The group overseeing those allocations now knows that, if those funds are not fully spend on those projects, it can redirect the funds to other eligible projects during 2025 and 2026.
Tennessee’s Financial Stimulus Accountability Group already had $30 million to reallocate at its July meeting from funds that were not spent.
The largest block of funds was more than $21 million allocated to health care facility staffing assistance grants with an additional $3.7 million from health care resiliency capital investments and $1.6 million from workforce transformation funds.
The group was advised to instead allocate the funds with $10 million to megasite roads, $7.5 million to health projects, $7.2 million to food banks, $2.5 million to housing development projects and $2 million toward a Hamilton County Forensic Center.
The group is maintaining a federal fiscal recovery fund allocation and spending database that will be updated again with numbers through June 30 by the July 31 reporting deadline.
The accountability group has approved 44 projects across 16 agencies for the funds as part of what it calls the Tennessee Resiliency Plan.
