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NEW BUSINESS— 9C <br /> ,-iI�EN HILLS <br /> MEMORANDUM <br /> DATE: September 14, 2020 <br /> TO: Honorable Mayor and City Councilmembers <br /> Dave Perrault, City Administrator <br /> FROM: Mike Mrosla, Community Development Manager/City Planner <br /> SUBJECT: Small Business Emergency Assistance Grant Program <br /> Budgeted Amount: Actual Amount: Funding Source: <br /> N/A $150,000 CARES Act <br /> Council Should Consider <br /> A motion to adopt resolution 2020-042 extending the application window for the Small Business <br /> Emergency Assistance Grant Program in response to the COVID-19 pandemic. <br /> Background <br /> At its August 24, 2020 meeting, the City Council adopted resolution 2020-035 establishing a Small <br /> Business Emergency Assistance Grant Program in response to the COVID-19 pandemic. At the <br /> direction of the City Council, the City of Arden Hills made available $150,000.00 of CARES Act <br /> Funds to support the Grant Program. The intent of the grant program is to provide financial <br /> assistance to local businesses to help them continue their operations, preserve employment, and <br /> prevent business closures in an effort to encourage long-term economic vitality in Arden Hills. The <br /> program provides locally-owned and operated businesses with an emergency grant of up to $5,000. <br /> The established grant amount allows for up to 30 Arden Hills business to apply and receive funding. <br /> To be eligible to receive a grant, a business must demonstrate loss due to COVID-19 and meet the <br /> eligibility requirements and program parameters. <br /> The application window opened on Monday, August 31 and runs through Tuesday, September 15, <br /> 2020. As of September 10, 2020 city staff has received 15 applications for funding. Staff will <br /> provide an update to Council as to any new applications received. Should Council want to extend <br /> the application window via resolution to allow for additional time for businesses to apply for the <br /> grant a resolution has been provided for consideration. If approved, staff will promote the extension <br /> through emails, the website, and social media. <br /> Budget Impact <br /> The city had made available $150,000 from the CARES Act Funds for the proposed Small Business <br /> Emergency Assistance Grant Program. <br /> Page 1 of 2 <br />