Residents in Alexandria, Virginia, who are receiving money from a guaranteed income program are receiving their next payment of $500 today.

The Alexandria Recurring Income for Success and Equity, or ARISE, program pays 170 residents in Alexandria $500 on the first day of every month. It is being funded by the American Rescue Plan Act, according to the program's website.

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The applicants were randomly selected by Abt Associates, Alexandria's research partner in the program, through a lottery selection. Abt Associates is conducting an evaluation of how the extra $500 per month will affect recipients' financial stability and well-being.

“Thanks to the hard work of our community partners, we exceeded our expectations for reaching and encouraging Alexandrians to apply for ARISE,” Alexandria Mayor Justin Wilson said in a statement, according to Alexandria Living.

“Our goal was to ensure that eligible residents throughout the city knew about ARISE and applied to gain a chance to receive extra income and the ability to make choices that could improve their financial well-being, quality of life, and future,” he added.

In order to apply for the program, an applicant needed to be a resident of Alexandria and be at least 18 years old. The applicant also had to have an income at or below 50% of the area's median income, which varied depending on how many people lived in an applicant's household.

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In total, the city received 4,149 applications for the program, of which 170 were selected.

Additional information about the ARISE program can be found on its website.