Dept/ Agency: Administration/Office of Management and Budget Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Temporary Emergency Appropriation Purpose: The 2021 American Rescue Plan Act-Build Back Better Regional Challenge Grant is designed as a two-phase competition to: (1) help regions develop transformational economic development strategies; and (2) fund the implementation of those strategies that will create and grow regional growth clusters. Funding Source: United States Department of Commerce (DOC), Economic Development Administration (EDA) Appropriation Amount: $500,000.00 Budget Year: 2022 Contract Period: December 15, 2021 through December 14, 2023 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale (X) Grant ( ) Sub-recipient ( ) n/a Additional Information: Funds accepted by Resolution 7R1-m adopted on April 6, 2022. Operating Agency: Department of Administration Two-Thirds vote of full membership required.