The purpose of this grant program is to assist small businesses located within the City of Pine Island (the “City”) by providing funds to allow small businesses to safely reopen and to address the negative economic impacts of the COVID-19 pandemic. The Pine Island Economic Development Authority (the “EDA”) will use funds from the American Rescue Plan Act (ARPA) to fund the grant program and assist eligible businesses to mitigate declines in revenues or impacts of periods of closure and to implement COVID-19 prevention or mitigation tactics.
The COVID-19 public health emergency caused severe economic impacts to small businesses in the community, especially to businesses that were required to close and/or operate a reduced capacity. The pandemic resulted in declines in revenues for small businesses and required businesses to spend additional funds to adhere to social distancing requirements and public health guidance. This grant program seeks to addresses these financial impacts by supporting local small businesses in order to ensure the viability of the businesses as they move past the COVID-19 pandemic and seek to re-open or return to pre-pandemic operations and make up revenue losses caused by the COVID-19 pandemic by expanding operations outdoors. The EDA desires to help businesses in the community which have been negatively affected financially as a direct result of the COVID-19 pandemic in order to minimize the number of job losses as a direct result of the pandemic, maintain the City’s small business community, minimize the number of small businesses which would potentially permanently close due to COVID-19 pandemic impacts, and limit the total number of potential vacancies in key commercial areas of the City. As such, the EDA hopes to assist small businesses in returning to their pre-pandemic employment levels, help businesses safely reopen and expand capacity outdoors to make up revenue losses caused by the pandemic.
Grants will be reviewed and approved by designated grant subcommittee created by EDA Board. Recipients will be required to submit reports as required by the EDA.
• Brick and mortar business
• Located within Pine Island city limits
• Had to close due to the COVID-19 pandemic and/or any Executive Order issued by the Governor
• Demonstrate a significant loss in revenue and can document revenue loss and business interruption/financial hardship as a result of COVID-19.
• Demonstrate how the proposed grant funds will help mitigate revenues losses from the pandemic or help the business safely reopen
• Be a legal entity registered with the Office of the Minnesota Secretary of State and be in good standing • Be in compliance with city ordinances, codes, licensing, and must not have any delinquent taxes, bills, or other charges due to the city
Eligible Expenses (new purchase or reimbursement of past expenses made on or after March 3, 2021, except in cases where other financial assistance covered those expenses) to ensure businesses can safely reopen and recover revenues lost from the pandemic:
• Patio amenities • Construction of patio whether permanent or temporary
• Tents or other overhead cover Funds cannot be used to pay or reimburse expenses that have been or will be reimbursed under any other local, state or federal program, such as the reimbursement by the federal government pursuant to the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), SBA or Paycheck Protection (PPP) funds.
• Maximum Grant of $10,000
• Itemized Invoice or Quote
• Proof of Payment
If the grant is awarded, the grantee must keep all records related to the grant for 6 years after the disbursement of the grant. If needed, grantee must allow the EDA, the City, the State Auditor, the IRS or any of their authorized representatives (which may include other independent financial analysts) access to documentation related to the grant.
The EDA reserves the right to revise these guidelines as needed to best address the impact of the current pandemic and to reflect any changes/additions/interpretations of the ARPA.
The EDA reserves the right to approve or reject applications on a case-by-case basis, taking into consideration factors considered appropriate by the EDA, in addition to established polices, criteria, and potential benefits. Meeting the criteria does not guarantee a Program application will be approved. Approval or denial of an application is at the sole discretion of the EDA