Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Supervisor Dave Pine, District 1
Supervisor David Canepa, District 5
Subject: 2021 SMC Strong Small Business Assistance Program, Round 2
RECOMMENDATION:
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Adopt a resolution:
A) Approving reallocation of up to $1,500,000 in American Rescue Plan Act funds, or other funds as determined by the County Manager, under the 2021 SMC Strong Small Business Assistance Program ("2021 SMC Strong"), Round 2 for administration and distribution of grants to benefit eligible local small businesses; and
B) Authorizing and directing the County Manager to amend the agreement with the SMCU Community Fund for administration and distribution of the $2,000,000 in 2021 SMC Strong grants, as needed, to implement Round 2 of 2021 SMC Strong.
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BACKGROUND:
Since the start of the pandemic, the County, along with other funders, have contributed over $12,800,000 in funds for grants that have been distributed to almost 1,000 local small businesses. The first small business grant program was launched in April of 2020 and provided grants to businesses with gross income of $2,500,000 or less. Subsequent rounds of grants focused on businesses and business owners in targeted zip codes, have set lower income caps, and have targeted specific types of businesses that were significantly impacted by COVID-19 such as restaurants, breweries, and wineries.
On July 20, 2021, the Board of Supervisors approved the 2021 SMC Strong Small Business Assistance Program ("2021 SMC Strong") with an allocation of $2,000,000 ("Round 1"). Round 1 was intended to fund 200 grants of $10,000 each to assist very small businesses that had not received funding from previous Small Business Grant rounds or other state or federal assistance in the past 12 months. Eligibility criteria for Round 1 grants included a 2019 gross income cap of $120,000 and a demonstration that grantee businesse...
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