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City officials are working diligently to pursue funding from the American Recovery and Reinvestment Act, which provides approximately $500 billion for targeted priority infrastructure and social service investments. The City has identified approximately $25 million in “shovel-ready” projects and is pursuing application for funding with various state and federal agencies in the following categories: Energy Efficiency, Highways, Water and Sewer, and Transit. In addition, the City is partnering with local school districts, the Park District, the Public Library, and regional partners to identify additional projects for submission.
The pursuit of economic stimulus funds is only one aspect of the City’s strategy to mitigate the impact of the national financial downturn. In fact, the City’s approach is in concert with the best practices to “navigate the fiscal crisis”, as identified by the Alliance for Innovation – a national organization comprised of local government officials and public administration academicians. The following table illustrates how the City is practicing sound fiscal habits to weather the current economic climate:
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