TITLE
Recommendation to decrease FY 20 appropriations in the General Fund Group in the Citywide Activities Department by $25,000 to reflect the use of the Fourth Council District One-time District Priority Funds for District Restart Grants to Fourth District businesses damaged by the events of May 31st;
Allocate $50,000 from the one-time Business Corridor Improvement funds appropriated by City Council in the FY 19 Budget for Pacific and Anaheim corridors to be used for First and Sixth District Restart Grants to businesses located in the First and Sixth districts businesses damaged by the events of May 31st;
Allocate $25,000 from the one-time sale of Successor Agency Citywide funds appropriated by the City Council in the FY 20 Budget to be used for Seventh District Restart Grants to businesses located in the Seventh District businesses damaged by the events of May 31st; and
Direct City Manager to look at expanding the current CDBG grant program to incorporate eligible businesses damaged by the events of May 31st.
DISCUSSION
On May 31, 2020, an estimated 290 businesses reported damages, theft, or vandalism in the City of Long Beach . In an effort to assist very small businesses that reopen and restart as soon as possible, the City Council has directed the City Manager to identify resources that may be made available to business owners facing the greatest financial hardship; and, may struggle to access credit or other sources of working capital. The purpose of this request is to redirect $100,000 of existing one-time City Council District funds to provide impacted business owners with $1,000 to $2,000 Small Business Restart (SBR) grants.
Small Business Restart Grant Program
Although the City operates an SBR grant program through its Community Development Block Grant (CDBG) program, the SBR grant program is designed to provide emergency relief to help small businesses within specific Council Districts that have made additional funding available to businesse...
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