Hartford Business Journal

April 20, 2020 — Power 50

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www.HartfordBusiness.com • April 20, 2020 • Hartford Business Journal 3 Wallingford among municipalities eager for stimulus funding By Sean Teehan steehan@hartfordbusiness.com A s Wallingford trudges through the coronavirus pan- demic and all the uncertainty it's created, Mayor William Dickinson is sure the town will seek aid, but isn't sure how to go about it. Wallingford is currently operat- ing on a $169-million budget, and COVID-19's economic impact will likely put pressure on the finances of the town and the rest of Con- necticut's 169 municipalities. The federal government's $2-tril- lion federal stimulus program — known as the CARES Act — has set aside more than $150 billion for state, municipal and tribal govern- ments, but didn't leave a clear blue- print on how to distribute it. "Certainly, Wallingford will be in- terested in participating" in any aid program, Dickinson said. "[But] it's unclear what we can use the money for once it becomes available." Wallingford isn't alone in playing the waiting game when it comes to federal aid, said Joe DeLong, executive director of the Connecticut Confer- ence of Municipalities (CCM). Most cit- ies and towns are waiting to see how the state will distribute the money. Under the CARES Act, stimulus funds are distributed to states, and directly to municipalities with 500,000 or more residents, DeLong said. Since Connecticut doesn't have a single municipality that meets that threshold, state officials are in charge of doling out funds. But since the Lamont administration is bogged down with more immediate issues, town leaders are having to wait their turn, DeLong said. Continued on page 4 >> TOWN PROFILE: WALLINGFORD Up Front Your money is 100% safe. 100% insured. Not all banks can say this. Can yours? Member FDIC/Member DIF bankatpeoples.com · 877.888.1388 The FDIC insures all deposits up to $250,000 per depositor. All deposit amounts above the FDIC limits are insured in full by the Depositors Insurance Fund (DIF). The town of Wallingford, whose South Main St. town hall is shown above, is trying to figure out how to get access to federal stimulus funds. PHOTO | WIKIMEDIA COMMONS, NANCYSANDS1965

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