by Calista Corporation Staff
April 17, 2020: The current novel coronavirus pandemic is deeply impacting individuals, communities, non-profits, Tribes and for-profits alike. One of the measures Congress made was passing the CARES Act in late March, which was also signed into law. This package includes an $8 billion set aside for a Tribal Relief Fund.
The U.S. Department of Treasury is requesting data from Tribal governments, including Alaska Native corporations, to assist in making a determination as to the distribution of the Tribal Relief Fund. Calista Corporation has provided its data. Calista is also actively assisting YK Delta Tribes and village corporations with their submissions upon request. The Treasury web portal and additional information is located on https://home.treasury.gov/policy-issues/cares/state-and-local-governments.
The U.S. Treasury Department will make the final determination on which entities will receive funding, and how much each entity will receive. Should Calista be allocated Tribal Relief Funding, we will redirect COVID relief support to YK Delta communities and/or directly to Shareholders in accordance with any directives or conditions the U.S. Treasury attaches to such funding.
“We will hold consultations with YK Delta Tribes to determine how best to use any Tribal Relief Funding provided to Calista,” said Calista Corp. President/CEO Andrew Guy. “Additionally, Calista will seek to absorb managements costs so that as many dollars as possible reach the YK Delta communities. Calista’s sole focus in participating in the Tribal Relief Program is to benefit YK Delta people and communities and not Calista’s corporate finances.”
The U.S. Treasury and federal agencies have been clear that any and all Tribal Relief Funding may be audited to confirm compliance with the CARES Act.
If the U.S. Treasury provides Tribal Relief Funding to Calista, we will host consultation conference calls with YK Delta Tribes. Details will be announced later, pending federal determinations.
