Council approves emergency grant program for local businesses
By Taylor J. Hale
Staff Writer
STEVENS POINT – Stevens Point city leaders are introducing a program to aid local businesses affected financially by COVID-19.
Stevens Point council members approved a motion to adopt the “COVID-19 Emergency Grant for Local Businesses program,” during an April 20 council meeting.
Through the program, up to $2,000 in grants will be made available to local businesses, with up to 10 full-time employees that have had their main business facets affected due to the virus. The grants may only be utilized for mortgage and rental fees.
The program is set to launch on April 23 at 8 a.m.
Mayor Mike Wiza told the Gazette that grants could begin being dispersed as soon as the week of April 27.
“In a very accelerated pace, we could probably get something out by early next week, that would be an ideal situation,” Wiza said.
The city has a fund of $100,000 for the program and is serving businesses on a “first come, first serve” basis. Businesses can receive up to $2,000 but are not required to apply for the full amount.
Wiza noted that an additional wave of grants could come to the city if the COVID-19 shutdowns continue into summer.
“If we are stuck into this until June, I think it would be prudent to look into another round,” Wiza explained.
The city’s community development department will oversee the disbursements of all loans and will report all dispersed funds to the finance committee.
Program Amendments
The program was amended during the meeting to reduce the number of maximum full-time employees allowed for a business to apply for the grant and remove shop utilities, such as heating and electric, from the program.
“If we look at what has the greatest impact, if everyone got $2,000 you would have 50 businesses that would receive some type of grant monies from the city, but if you have one business that needs $750 and another one that needs $400, you’re going to have a greater impact if you exclude utilities and do only rent and mortgage payments,” said Community Development Director Ryan Kernosky.
Council members unanimously approved all program amendments during the meeting.
More information will be available on the city’s website – https://stevenspoint.com.