Referred to as the Pflugerville Pfund, the program aims to launch with $50,000 to provide financial relief to city businesses.
Mays confirmed April 9 that the fund has currently raised $22,500, and the PCDC issued a memorandum of understanding to award a $15,000 challenge grant to be matched by other funding sources. The additional funding provided by the PCDC will bring the fund's total to approximately $37,500.
Pflugerville Pfund is the most recent small business emergency grant program to be implemented by area cities in recent weeks. Similar fund programs include Round Rock Cares and the Georgetown Chamber of Commerce's COVID-19 Small Business Support and Recovery Grant.
Two dates, April 10 and 15, had been floated for the Pflugerville Pfund's launch. Mays said April 15 had initially been discussed to allow for more time to recruit additional founding fund partners, but she said she has the webpage and application process ready to launch sooner. Mays acknowledged that the current needs for funding are critical and these funds allow businesses to have "a fighting chance."
“As a chamber, we’re here to really foster partnerships and collaboration," Mays said, adding that the process of putting this emergency program together has been done as "a labor of love."
The application for the grant will be available online and are eligible to businesses within the city limits and that employ fewer than 50 people. Businesses up for consideration can request up to $5,000 in funds, but they must be able to show a direct negative impact on their business from the pandemic, Mays said.
The selection process for funding will be completely blind, Mays said, and will not take into consideration the business name or owner in question. A funding oversight committee will review all requests, and those, if selected, are not guaranteed to be paid in the full amount requested.
Funds awarded will be paid directly to cover operational expenses, such as rent and utilities, and the chamber will be setting up a charitable fund so others can donate following its initial launch.
The chamber has partnered with the Greater Round Rock Community Foundation to help oversee the funding process, but Mays added that the foundation does not have the power to dispense any money without the chamber's approval.
Board member Jim McDonald asked if any funds can be administered to businesses in the city's ETJ. Mays responded that some funds donated will not be limited by city limits. PCDC Executive Director Amy Madison said that PCDC's challenge grant is applicable to in-city limit businesses.
Mays said the chamber is currently in conversations with the Pflugerville Downtown Association regarding potential fund donations and that conversations have been held with city officials. No financial commitment to the fund has yet been confirmed by Pflugerville City Council or city staff, Mays said.
PDA Secretary McDonald said he will be reaching out to association members tonight to discuss the fund more in-depth with them.
Board member Jeff Coleman encouraged the chamber and PCDC to work with significant companies within Pflugerville, including Austin Foam Plastics Inc. and Republic National Distributing Company, for contributions to the fund.
Mays said that during the coronavirus pandemic, there has been a rallying phrase, "Pflugerville Strong," used by community members to unite and assist one other and local businesses. That same mantra, Mays said, is the motivation leading to this grant program.
“Let’s prove to them that we really are stronger together," Mays said.
