Join our Waitlist for Expert Advice!

Las Vegas Stimulus Checks: City Approves $121M American Rescue Plan Funding Allocations Even though federal stimulus checks aren't coming, some state and local governments are using the federal funds they received to give targeted stimulus payments. Recently, the Las Vegas City Council...

By Aman Jain

This story originally appeared on ValueWalk

geralt / Pixabay - Valuewalk

Even though federal stimulus checks aren't coming, some state and local governments are using the federal funds they received to give targeted stimulus payments. Recently, the Las Vegas City Council approved a plan to use the funds they got under the American Rescue Plan Act, which was approved in March of last year. The funds wouldn't be used to give stimulus checks to individuals, rather Las Vegas stimulus checks would go toward supporting causes, issues and groups impacted most by the pandemic. The city of Las Vegas got $121 million in funding from the American Rescue Plan Act.

Q4 2021 hedge fund letters, conferences and more

Las Vegas Stimulus Checks: What Is It?

Last week, the Las Vegas City Council approved the plan to distribute $121 million in federal American Rescue Plan Act relief dollars to nonprofits, local businesses, affordable housing projects and other pandemic-related response groups.

Nonprofit organizations will get the biggest percentage of the total funds at 40%, while the other three groups will get 20% each. If we do the calculations, the nonprofit organizations will get more than $49 million, while the other three groups would get more than $23 million each.

A point to note is that the city authorities have already finalized the list of recipients who will get the Las Vegas stimulus checks. As per the authorities, the city got more than 500 requests for funding totaling about $2.2 billion.

Of the total requests, the authorities have selected 149 eligible applicants. The selection criteria took into account the area that the recipient would target, how the recipient would use the funds and how the pandemic impacted the organization.

Who Got The Funding?

The largest individual funding went to Youth Development and Social Innovation, which got $14 million. This department runs programs that educate young Las Vegans in seven courses about professionalism and job readiness, such as creating a professional resume and interview preparation.

About $8 million has been set aside for the construction of a new East Las Vegas workforce employment training center. Also, $6 million would go toward Strong Start Academy Elementary School. The city started Strong Start Academies to support early learning education.

Two more organizations that are set to get around $6 million are the Kirk Kerkorian School of Medicine at UNLV Biomedical Research Facility and Strategic Services for an affordable housing development at Desert Pines. To view the full list of recipients, visit www.lasvegasnevada.gov/ARP.

Now that the recipients are selected, the authorities are working to notify those recipients, distribute the Las Vegas stimulus checks, as well as monitor the performance of the programs.

About $9.6 million of the total funds will be held in reserve and the city has until Dec. 31, 2024 to decide how to use these funds. If the reserve amount remains unused, the authorities plan to make these funds available to applicants who weren't selected for funding this time around.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

You Have One Month Left to Buy a House, According to Barbara Corcoran. Here's Why.

"If you are planning on waiting a year and seeing where interest rates go, you are out of your mind," Corcoran said.

Business News

Meta Fires Employee Making $400,000 Per Year Over a $25 Meal Voucher Issue

Other staff members were fired for the same reason, per a new report.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Thought Leaders

These 3 Trends Will Change What It Means to Be an Entrepreneur in 2025

Here are three entrepreneurship trends from the new Global Entrepreneurship Monitor report that are changing the landscape for the future.

Side Hustle

I Made $14,000 in 1 Week With a Spontaneous Halloween Costume Side Hustle — Here's How

Sabba Keynejad was in art school when he started to refine his entrepreneurial skills.

Franchise

The McRib Is Back, But Only at Select McDonald's — Here's Where to Find It

This scarcity is nothing new. In 2022, McDonald's announced a "Farewell Tour" for the McRib, suggesting that it might be the last time customers could get their hands on it.