Plano City Council on May 26 approved a pair of interlocal agreements with Collin County that will make available to the city a total of $28 million in federal CARES Act funding.
Nearly $12 million would be used to help local residents at risk of default on their leases or mortgages as a result of income losses related to the coronavirus-related economic slowdown. The assistance can also be used to pay for utilities and food costs for eligible households.
The rest of the funding—$16 million—may be used to reimburse the city for costs incurred as part of its COVID-19 response efforts.
So far Plano has spent close to $1.4 million on these efforts, City Manager Mark Israelson told council members May 26. City staff is working on the details of how the money would be spent, he said. Some of these details are expected to be presented at the council’s June 8 meeting.
“We have been working as a staff to develop a recommendation that we can bring back to the city council,” Israelson said. “It is not final yet, so I am not going to be disclosing any details quite yet.”