REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Oliver Chi, City Manager
PREPARED BY: Dahle Bulosan, Chief Financial Officer
Subject:
title
Approve the COVID-19 Small Business Micro Grant Program
body
Statement of Issue:
The City of Huntington Beach has received $648,000 in CARES Act funding from the County of Orange to support small businesses affected by COVID-19. Staff is recommending the approval of the COVID-19 Small Business Micro Grant Program to provide direct relief to small businesses in Huntington Beach.
Financial Impact:
The City entered into a subrecipient agreement with the County of Orange to receive $648,000 in funding to allocate to small businesses within Huntington Beach. Per the subrecipient agreement, up to 3.5% or $22,680 of the funding may be used to administer the program. No General Fund appropriations are requested to administer the program.
Recommended Action:
recommendation
Approve the COVID-19 Small Business Micro Grant Program.
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Alternative Action(s):
Do not approve the program as presented, and direct staff accordingly
Analysis:
On December 15, 2020, the Orange County Board of Supervisors approved allocating $648,000 to provide economic support to small businesses impacted by the COVID-19. Staff is recommending approval of the COVID-19 Small Business Micro Grant Program outlined below.
This program is designed to supplement other COVID-19 funding sources made available to small businesses by the State and Federal government. On November 30, 2020, Governor Gavin Newsom announced that the State of California would provide $500 million in direct relief grants for eligible small businesses impacted by COVID-19 restrictions, and proposed an additional $575 million in direct relief on January 5, 2021, as part of the proposed 2021-22 budget, for a total of $1.075 billion. The Federal Government also extended the Paycheck Protection Program established by the ...
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