The overview
The ordinance authorizes a $1.39 million contract with LiftFund to oversee the grant program. As the administrator, LiftFund will manage $1.2 million in direct grants to eligible small businesses.
According to city documents, the Construction Mitigation Grant program will assist small businesses in certain commercial corridors affected by city-related construction projects.
Three categories of the program:
- The Stabilization Construction Grant will be available for businesses impacted by city-initiated construction projects for 12 months or longer, and have more than 10 small businesses located within the corridor
- The Mitigation Construction Grant is designed to help prepare small businesses that will be affected by future construction projects
- The Accelerate Recovery Construction Grant is designed to support small businesses who were impacted by city-initiated construction projects for 12 months or longer
Looking ahead
The grant program is estimated to be completed by Feb. 6.