TITLE: Title
Resolution to Award American Recovery Plan Act COVID-19 Mitigation Business Grants
PURPOSE: To approve businesses and funding amounts as recommended by the COVID Grant Review Committee.
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DEPARTMENT: Economic Development
CONTACT INFORMATION: Jon Hartman-Brown, Economic Development Director, 919-391-7846, JHartman-Brown@townofcarrboro.org
INFORMATION:
Background: On June 22, 2021, the Town Council authorized up to $300,000 to be provided to Carrboro small businesses to assist with the mitigation of the negative economic impacts caused by COVID-19. The Council approved a grant policy on September 15, 2021.
Thirty-five businesses submitted an application with a total request of $346,522. Twenty percent of the applicants were BIPOC-owned businesses (target of 23 percent) and 55 percent were women-owned businesses (target of 33 percent). Two of the businesses did not meet the minimum qualifications of the program.
On December 14, 2021, Town Council approved providing $264,722 in grants to 19 applicants and authorized the Town Manager to allocate an additional $26,522 in ARPA funds to fully fund the remaining qualifying applicant requests.
The Council originally allocated $300,000 to this program and then authorized the Town Manager to allocate an additional $26,522 for fulfill all of the qualifying grant requests - totaling $326,522 in allocations. Council awarded $264,722 in grants in December. This round will award the remaining $61,800 to fulfill all of the qualifying grant requests (which totaled $326,522).
Findings: The COVID Grant Review Committee (hereafter "Committee") met on April 8 and recommended awarding $61,800 to fund the remaining eight applicant's requests. The applications were reviewed based on points given as determined by the prioritization criteria in the policy.
FISCAL & STAFF IMPACT: $61,800 of previously allocated ARPA funds.
RECOMMENDATION:r The COVID Grant Review Committee recommends approval of the resolut...
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