Town working to spend $14.54 million
Since the Town of Wake Forest received $14.54 million from the federal American Rescue Plan Act in 2021, it has worked as swiftly as possible to spend every penny on vital projects in four categories — Broadband ($3.13 million), Public Health/Economic Impact ($3.19 million), Public Safety ($1.9 million), and Stormwater ($6.33 million) because all the money most be obligated (under contract) by the end of this year and spent by the end of 2026. The $1.9 million for public safety has been spent or obligated on a new ladder fire engine, fire SCBA equipment and new police department patrol vehicles. Only $579,855 has really been spent and the town has to hope the new ladder truck can be delivered in 2026. Chief Financial Officer/Assistant Town Manager Aileen Staples said the ARPA funds are with the NC Capital Management Trust, currently earning 5.25 percent in interest. Currently there is about $11