Nassau County leader offers to use federal bailout aid to help small businesses recover from pandemic
Nassau County Manager Laura Curran has offered to allocate $ 25 million in funding from the American Rescue Plan Act to help more small businesses.
The county currently has a $ 2 million Restaurant Recovery Grant program, which provides grants of $ 5,000 and $ 10,000 to local restaurants that have struggled during the COVID-19 pandemic. Most of the funds have been exhausted.
Nassau would use the new federal aid to open up eligibility for grants not only to restaurants, but to more small businesses, including all foodservices, retailers and other small businesses in local downtown areas.
Nassau is expected to receive $ 200 million in 2021 and $ 185 million in 2022 from the American Rescue Plan.
County lawmakers must approve any use of federal funds.
“We intend the new grant program to help the bagel store, hair salon, hardware store, all of our retail businesses that make downtown Nassau vibrant and strengthen our economy,” said Curran, a Democrat running for reelection in November. during a press conference at the Queen of Hearts clothing store in Merrick.
The county is also reportedly offering new stabilization loans to small businesses, including start-ups and minority women-owned businesses.
County officials said Nassau hoped to use the additional $ 25 million for grants, loans and small business assistance.
Evlyn Tsimis, the county’s deputy director for economic development, said $ 10 million would likely be used specifically for the $ 5,000 and $ 10,000 grants.
On Monday, Curran announced a separate proposal to send payments of $ 375 to 300,000 homeowners eligible for school tax rebate exemptions.
Curran offered to use a separate pot of $ 100 million in US bailout funds to make the payments.