Dallas approves $2230000 for small business micro grants amid COVID recovery efforts

The Dallas Economic Development meeting on February 3, 2025, focused on several key initiatives aimed at supporting local businesses and enhancing economic growth in targeted areas. The discussions included updates on tax abatements, incentive programs, and the implementation of a micro-grant program for small businesses.

One of the primary topics was the approval of tax abatements for specific projects in designated target areas. The council discussed three types of incentives: those for projects valued at $1 million or below, incentives for minority and women-owned business enterprises (MWBEs), and community developers, which are also applicable in non-target areas. The meeting highlighted that one agreement had been issued through administrative action, along with an amendment to a previously issued action.

A significant portion of the meeting was dedicated to the micro-grant program, which was established to assist small businesses affected by the COVID-19 pandemic. The program, which offers $5,000 grants, has awarded a total of $105,000 to 21 businesses, with one application still pending. The council emphasized the importance of compliance checks to ensure that the funds are used appropriately, with follow-ups scheduled 30 days after grants are issued.

Concerns were raised regarding outreach efforts for the micro-grant program, as the previous administration had received 60 applications without any approvals before the current team took over. The council discussed the remaining funds from the program, which amount to approximately $120,000, and the possibility of reallocating these funds to further support small businesses.

The meeting concluded with a commitment to keep council members informed about the available funds and potential reprogramming options to ensure that assistance reaches businesses in need. Overall, the discussions underscored the city's ongoing efforts to bolster economic development and support local entrepreneurs in Dallas.