City to consider local business grant program
For the City Times
STEVENS POINT – Stevens Point officials are considering the development of a small business grant program.
The grant development is a joint effort between Community Development Director Ryan Kernosky, Comptroller/Treasurer Corey Ladick, and Mayor Mike Wiza that would provide up to $2,000 to local businesses, to cover rent, mortgage payments, or utility costs.
“These businesses have invested in our community and now it is time that we invest in them,” said Wiza. “Local businesses are the heart of our economy and are some of the most vulnerable. We need to step up and help them when we can.”
“Stevens Point businesses aren’t looking for loans right now, they’re looking for financially liability-free assistance to help get them through the Safer at Home Executive Order and through this pandemic,” added Kernosky. “Our local economy, currently at a critical point in this pandemic, depends on the local businesses operating as much as they can under the current circumstances. I’m pleased Mayor Wiza and Comptroller/Treasurer Ladick recognized this as well and even more pleased that the Common Council is looking to step up and help.”
The proposal calls for $100,000 from the city’s fund balance.
To qualify, businesses must be a local, non-franchise company with up to 25 full-time employees; be in good standing with the city of Stevens Point and the Wisconsin Department of Financial Institutions; be a commercial property within the city limits that was open to the public on March 17.
Only expenses due after March 17 are eligible.
If approved at the April 20 council meeting, the application process will begin as early as next week.