Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving An Amendment To The Small Business Relief Program To Include $300,000.00 in Coronavirus Local Fiscal Recovery Funds Awarded Under The American Rescue Plan Act Of 2021 To The City Of Hollywood For A Total Program Amount Of $779,816.76.
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
This Resolution recommends the approval of the City’s revised Small Business Relief Program Plan which will provide up $20,000.00 in grant funding for eligible expenses which include rent/mortgage, utilities, and payroll assistance to support substantially impacted small businesses to help stabilize and grow Hollywood’s economy. The City will utilize $479,816.76 CDBG-CV1 and CDBG-CV3 allocation and also $300,000.00 from American Rescue Plan Act (ARPA) allocation for the Small Business Relief Program to provide additional financial relief to more Hollywood small businesses impacted by COVID-19, in accordance with the U.S. Department of Housing and Urban Development National Objectives and Eligible Activities.
Fiscal Impact:
Funding is available in CBDG-CV1 account number 111.160101.55400.584500.001220.000.000 and in CDBG-CV3 account number 111.160101.55400.584500.001409.000.000 and in ARPA account number 117.160501.55900.546607.001436.000.000.
Recommended for inclusion on the agenda by:
Raelin Storey, Director, Communications, Marketing & Economic Development
Shiv Newaldass, Director, Development Services
Gus Zambrano, AICP, ACM, Sustainable Development