HUD defines LMI as no more than 80% of the median family income for the area. Please refer to chart on Page 1 of application form.
The purpose of the Small Business Grant Program is to provide operating assistance to business owners to continue the operations of independent small businesses and keep residents employed as a result of the COVID-19 pandemic. As the City is utilizing federal funding through the Community Development Block Grant (CDBG) program, all operating assistance must be utilized under federal regulations. Completed applications will be accepted on or after October 1, 2020. Applications will be accepted continuously until funding has been depleted.
Grant funds can be put towards the following expenses that occurred after March 17, 2020:
· Loss of Inventory
· And any purchases needed that were COVID-19 related, such as food packaging supplies, PPE equipment, changes required to work station to maintain social distancing, etc.
Applicants will have until October 20, 2021 to use the grant funds. Minority and Women owned businesses will receive priority in the selection process, and 25% of the total grant allocation will be set aside for MBE/WBE businesses. Grants can’t duplicate funding requested and received through other federal sources or programs.