Tega Cay Council approves $200K allocation for small businesses from ARPA funds
December 16, 2024 | Tega Cay, York County, South Carolina
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During the Tega Cay City Council meeting on December 16, 2024, significant discussions centered around the allocation of the remaining $200,000 in American Rescue Plan Act (ARPA) funds, aimed at supporting local businesses affected by the COVID-19 pandemic.
Council members expressed gratitude to the planning commission for their extensive work on the funding criteria, which is crucial for determining how the funds will be distributed. The council unanimously approved a motion to allocate the remaining ARPA funds to small businesses, emphasizing the importance of supporting those who have faced economic challenges during the pandemic.
A key point of discussion was the establishment of criteria for businesses to qualify for these funds. Council members debated the maximum number of employees a business could have to be eligible, with suggestions ranging from 50 to 100 employees. The consensus leaned towards a cap of 100 employees, ensuring that the support targets smaller businesses that may have been overlooked in previous funding rounds.
Additionally, the council agreed on a maximum grant amount of $10,000 per business, with the understanding that if more businesses apply than funds available, the total amount would be divided equally among qualifying applicants. This approach aims to ensure fairness and accessibility for all eligible businesses.
The council also discussed the inclusion of home-based businesses and non-profits in the funding criteria, recognizing their contributions to the local economy. It was agreed that all applicants must have been in operation since at least May 1, 2019, and must hold a valid business license to qualify for the funds.
As the meeting concluded, the council decided to table the finalization of the criteria until the next meeting, allowing for further refinement and clarity. The city manager will work on drafting the application process, which is expected to be communicated to local businesses in early January 2025.
This initiative reflects Tega Cay's commitment to supporting its local economy and ensuring that businesses can recover and thrive in the aftermath of the pandemic. The council's proactive approach aims to foster a resilient community by providing essential financial assistance to those who need it most.
Council members expressed gratitude to the planning commission for their extensive work on the funding criteria, which is crucial for determining how the funds will be distributed. The council unanimously approved a motion to allocate the remaining ARPA funds to small businesses, emphasizing the importance of supporting those who have faced economic challenges during the pandemic.
A key point of discussion was the establishment of criteria for businesses to qualify for these funds. Council members debated the maximum number of employees a business could have to be eligible, with suggestions ranging from 50 to 100 employees. The consensus leaned towards a cap of 100 employees, ensuring that the support targets smaller businesses that may have been overlooked in previous funding rounds.
Additionally, the council agreed on a maximum grant amount of $10,000 per business, with the understanding that if more businesses apply than funds available, the total amount would be divided equally among qualifying applicants. This approach aims to ensure fairness and accessibility for all eligible businesses.
The council also discussed the inclusion of home-based businesses and non-profits in the funding criteria, recognizing their contributions to the local economy. It was agreed that all applicants must have been in operation since at least May 1, 2019, and must hold a valid business license to qualify for the funds.
As the meeting concluded, the council decided to table the finalization of the criteria until the next meeting, allowing for further refinement and clarity. The city manager will work on drafting the application process, which is expected to be communicated to local businesses in early January 2025.
This initiative reflects Tega Cay's commitment to supporting its local economy and ensuring that businesses can recover and thrive in the aftermath of the pandemic. The council's proactive approach aims to foster a resilient community by providing essential financial assistance to those who need it most.
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