Item Coversheet

4.A.2.


Shakopee City Council
July 14, 2020

FROM:Michael Kerski, Director, Planning & Development
TO:Mayor and Council Members
Subject:
Small Business Relief Program
Policy/Action Requested:
Approve a $200,000 allocation of CARES funding from the State of Minnesota for funding of the Small Business Relief Program.
Recommendation:
Approve allocation.
Discussion:

Staff is recommending making available $200,000 from the CARES funding that the City of Shakopee has received through the State of Minnesota.

 

As previously approved, small businesses would be eligible for up to $15,000 upon showing proof of losses.  We have modified the program to include sole proprietorships.  I have attached the proposed application.  Jenn Brewington developed this format and the First Stop Shop used a similar one for its program.  They First Stop Shop received 44 applications of which 12 were from Shakopee and they are awarding a total of 20 countywide.

 

If the city receives applications in excess of available funding, we would do a lottery for fund distribution.

Budget Impact:
ATTACHMENTS:
Description
Small Business Relief Application