Park City poised to distribute $2.2 million in coronavirus relief to small businesses, not-for-profits
City Hall is preparing to distribute $2.2 million in monies available from the federal government through the Coronavirus Aid, Relief, and Economic Security Act, widely known as the CARES Act.
The municipal government plans to distribute the monies through grants. Small businesses and not-for-profit organizations with business licenses to operate inside Park City on March 1, 2020, or before that date will receive priority consideration. Eligible businesses or not-for-profit organizations must have had a full-time staff of 60 or fewer on March 1. They must have a physical location within the Park City limits.
Businesses or not-for-profit organizations seeking the funds are required to show they suffered significant impact as a result of the spread of the novel coronavirus and need to provide evidence of financial losses in the time since March 1. They also must be open for business on Nov. 20 or plan to reopen by that date.
Any business or not-for-profit that receives funds is required to spend the monies by Nov. 30, a requirement of the Department of Treasury. City Hall, though, says it requested an extension until Dec. 30. The extension sought by the municipal government would put the deadline further into the ski season, when many Park City businesses have larger staffs.
The monies are allowed to be used for operating expenses like employee pay, leases, mortgages and utilities. They can also be put toward expenses related to coronavirus-influenced operations, such as modifying business layouts for social distancing, remote operations and temporary structures.
The application deadline is Nov. 9. The Mountainland Association of Governments, an organization involving regional public entities, is scheduled to assign preliminary scores on Nov. 12 followed by City Hall finalizing the scoring and authorizing recipients and amounts the next day. The monies are scheduled to be distributed on Nov. 20.
More information and applications are available on the City Hall website, parkcity.org. The direct link is: parkcity.org/government/covid-19/cares-grant-program.
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