Lafayette approves $500K business relief

ByGeorge Ryan|Apr 16, 2020|Industry News, Local Real Estate, News

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BizWest — April 15, 2020

LAFAYETTE — The Lafayette City Council has authorized spending up to $500,000 to support small businesses experiencing challenges from the COVID-19 pandemic.

The money will fund the Lafayette COVID-19 Small Business Emergency Relief Grant Program. The program will run jointly with the Lafayette Urban Renewal Authority. Businesses in good standing with the city, with two or more employees and a brick-and-mortar presence in Lafayette are eligible for up to $10,000 to cover operating expenses.

“Small businesses are vital to the success and character of the Lafayette community,” Mayor Jamie Harkins said in a written statement. “Not only do these establishments provide important tax revenue to support city services, they energize our community’s identity, enhance community involvement, and stimulate the creation of local jobs. We want to help our businesses ride out these difficult times and be in a position to quickly reopen their doors as soon as public health orders are lifted.”

The urban renewal authority is contributing up to $200,000 of the available funding, which will be dedicated for grants to businesses operating within the Old Town Revitalization Area. “The COVID-19 pandemic is causing unprecedented challenges for everyone,” said Kevin Muller, LURA chair. “It’s gratifying to know that LURA’s support will help protect the vitality of Old Town and prop up the resiliency of our much-loved restaurants, shops, breweries, and service providers.”

Featured in BizWest – April 15, 2020
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