SACRAMENTO (CBS13) — The City of Sacramento woke up to a welcome sight on Tuesday – a large deposit of cash from the federal government.
Mayor Darrell Steinberg tweeted a photo of the $89,623,427 deposit that will help jumpstart Sacramento’s economy.
This $89,623,427 stimulus check from the federal government starts our economic recovery. It can't be used to fill budget holes, and must be spent by Dec. 31. My goal is to use it to carry out the #MeasureU goals of growing our economy in way that uplifts all our neighborhoods. pic.twitter.com/rw9SE0QrVY
— @mayor_Steinberg (@Mayor_Steinberg) April 21, 2020
“We want to be very strategic about how we spend this one-time money,” Steinberg said.
Steinberg has said that he wants the federal money used for a variety of Measure U goals, like helping with Sacramento’s housing crisis and redeveloping some major corridors.
“It’s a bright moment in a very difficult and dark time that the city qualifies for almost $90 million of resources to aid us in our economic recovery,” Steinberg said.
The Mayor also making it clear the federal money cannot be used to fill budget holes. Sacramento also has to use the money by the end of the year, the feds stipulate.
The infusion of cash comes from the federal government’s CARES act, the COVID-19 relief fund offering two trillion dollars in stimulus, $150 billion of which is going directly to local state governments.