With the federal government taking the lead role in driving economic recovery, the St. Louis law firm Greensfelder, Hemker & Gale, P.C. has launched a new multi-disciplinary practice group to help businesses learn how to most efficiently perform on projects funded by federal stimulus dollars. Its Stimulus Support Team will draw from multiple practice groups to shepherd clients through the complexities and compliance requirements of the $787 billion American Recovery and Reinvestment Act (ARRA) of 2009.
“For many businesses, the federal stimulus package is a lifeline to get through the recession, so it’s important to know how to make the most of the opportunity by understanding how to work effectively on projects funded in whole or part with ARRA dollars,” said Jim Scott, a Greensfelder officer and member of its Construction Law Practice. “Companies that traditionally focus on private sector work are likely to find the stipulations, processes and protocols mandated by the ARRA mystifying. Our Stimulus Support Team will help speed the learning curve.”
For the construction industry alone, Scott notes that stimulus contract opportunities will carry numerous contractual, legal and regulatory requirements that need to be carefully evaluated during the bid phase and complied with during contract performance. These range from prevailing wage and COBRA benefits to extensive new reporting and compliance obligations.
“The act’s transparency requirements grant the Comptroller General and the Offices of Inspector General access to contractor and subcontractor records and employees. Other provisions mandate that firms performing such work disclose evidence of criminal wrongdoing by principals, employees, agents and subcontractors. ” adds Scott.
Other Greensfelder practice groups represented on the Stimulus Support Team include Labor and Employment, Immigration, Corporate and Real Estate.
The range of companies affected by ARRA is exceedingly broad and includes health care providers, local government units, small businesses seeking tax incentives, and entrepreneurs interested in renewable energy incentives. Businesses new to the performance of federal contracts or subcontracts need to be especially aware of the nuances and requirements of ARRA and the many implementing regulations that are following in its wake.
For more information, contact Jim Scott at (314) 335-6853 or jjs@greensfelder.com.