Title
Report regarding a resolution accepting a $100,000 American Rescue Plan Act grant from San Mateo County for a new Small Business Post-Pandemic Recovery Grant Program for businesses in South San Francisco and appropriating the grant funds with Budget Amendment No. 24.002. (Ernesto Lucero, Economic Development Manager)
label
RECOMMENDATION
Recommendation
Staff recommends City Council adopt a resolution accepting a $100,000 American Rescue Plan Act (ARPA) grant from San Mateo County for a new Small Business Post-Pandemic Recovery Grant Program for businesses in South San Francisco that continue to experience economic challenges from the COVID-19 pandemic. The resolution also authorizes the City Manager to finalize negotiating the grant agreement, execute the grant agreement, and carry out any additional administrative functions to implement the program as required under the agreement, as well as appropriates the grant funds with Budget Amendment No. 24.002.
Body
BACKGROUND
Throughout the pandemic and during economic recovery, it remains evident that many small businesses in South San Francisco and throughout San Mateo County face significant economic challenges to sustain their small businesses. Many continue to face economic hardships paying rent, payroll, operating expenses, or increasing revenue from sales. Many businesses also continue to need additional support in e-commerce sales and obtaining new customers.
Since early 2020, the City has focused heavily on supporting small businesses and unemployed residents. The City Small Business Relief Fund provided $730,000 in small forgivable loans of $10,000 to $15,000 utilizing Community Development Block Grant (CDBG) Funds. In addition, the City provided $2 million in seed funding towards the opening of the Economic Advancement Center and $260,000 towards the San Mateo County Strong Restaurant, Brewery & Winery Grant Program. And most recently, the City sponsored an $825,000 Fa?ade and Tenant Improvem...
Click here for full text