TITLE
Recommendation to authorize City Manager, or designee, to augment the Small Business Restart Grant Program fund to provide more direct grants to eligible Long Beach small businesses that were impacted by damages, theft, and/or vandalism related to the events on May 31, 2020;
Increase appropriations in the General Fund Group in the Economic Development Department by $1,000,000, offset by a transfer from the Employee Benefits Fund; and
Increase appropriations in the Employee Benefits Fund Group in the Citywide Activities Department by $1,000,000 to the transfer to the General Fund Group, offset by a release funds from the Unfunded Liability Reserve. (Citywide)
DISCUSSION
On June 16, 2020, the City Council requested the City Manager to establish a Rebuild Long Beach Relief Fund to assist Long Beach small businesses with repair and loss recovery from damages sustained during the evening of May 31, 2020. Additionally, on June 16, 2020, the City Council approved the transfer of one-time funds to help create the City of Long Beach Small Business Restart (SBR) Grant Program, which is the first program that has resulted from the establishment of the Rebuild Long Beach Relief Fund.
The SBR Grant Program is designed to provide relief to help small businesses that were impacted by damages, theft, and/or vandalism related to the events that occurred on May 31, 2020. Approximately $250,000 is currently available for the SBR Grant Program. This is a citywide program, with eligibility primarily determined by (a) the business owner’s income for grants funded by Community Development Block Grant (CDBG) funding, and (b) the Council District in which a business is located for grants funded by Council District one-time funds. Currently, the SBR Grant Program is restricted to certain income limits or geographic boundaries depending on the funding source. The purpose of this City Council item is to allocate more funding to the SBR Grant Program to support businesses that a...
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