POUGHKEEPSIE – Dutchess County Executive Marc Molinaro announced Wednesday that Dutchess County has made $430,000 in grants available to assist microenterprise businesses negatively affected by COVID-19, through a program administered by Community Capital New York (CCNY). A microenterprise is defined as a business with five or fewer employees, including the owner. The program provides grants of up to $10,000 to stabilize microenterprises and preserve low- and moderate-income jobs. Eligible businesses can apply online.
County Executive Molinaro said, “Small businesses are the backbone of our economy, and this pandemic has forced many to close, with many more struggling to remain open. These grants will help these businesses stay afloat – keeping our neighbors employed and communities vibrant.”
The funding for the program comes from the U.S. Department of Housing and Urban Development’s Community Development Block Grant COVID/CARES Act (CDBG-CV) which was provided to the County’s Urban County CDBG Consortium. Eligible businesses must be in a municipality which is a member of the Consortium. The Consortium includes all Dutchess County municipalities, except the City of Poughkeepsie, which received its own CDBG-CV funds; the city is expected to announce a similar program using its CDBG-CV funds by in the near future.
The City of Beacon is also committing $150,000 towards this program, specifically for businesses located in the City of Beacon. Funding for this program is from the City’s Urban Development Action Grant (UDAG) funds; its applications will be accepted via the same application and follow the same guidelines and will be awarded on a first-come, first-served basis.
Eligible businesses must meet the following standards, established by the federal government:
- Five or fewer employees, including the owner
- Located in the Dutchess County Urban County CDBG Consortium
- Retain, rehire or create at least one low- and moderate-income job for six months
- For-profit business (non-profits are ineligible)
- Operate outside of a residential property
- In operation prior to March 15, 2017
- Not be one of the following business types: adult book, video and entertainment facilities, check cashing facilities, gambling facilities, gun shops, liquor stores, non-therapeutic massage parlors, medical marijuana production /distribution, pawnshops, tanning salons, or tattoo parlors
- Must document that funds are not duplicating other financial assistance provided via the CARES Act.
The low and moderate job standard can be met in several ways:
- Retain, rehire, or create at least one full-time position for a person whose full-time annual salary is below $54,950. For retention, the position must be at imminent risk of job loss without the funding; or
- The business is located within a Low- and Moderate-Income Area (LMA) (.pdf) and primarily serves local residents; or
The following are the federally established low- and moderate-income limits:
Household Size
1
2
3
4
5
6
7
8
Income Limit
$54,950
$62,800
$70,650
$78,500
$84,800
$91,100
$97,350
$103,650
Eligible uses of funds include:
- Rent
- Working capital
- Technical training
- Machinery and equipment, including personal protective equipment for employees
- Certain other costs associated with stabilizing a small business
Ineligible Uses:
- Relocation of business operations
- Renovations
- Paying off existing debt
- Reimbursement for costs incurred before aid
Applications are available online and will be accepted until all the funds are expended. CCNY will also provide technical assistance to potentially eligible businesses.
The Dutchess County Urban County CDBG Consortium includes 20 towns, eight villages, and the City of Beacon. For the purpose of administering this program, the villages will be considered in conjunction with their respective town. For the first four weeks of the application process, CCNY will award grants based on an equitable distribution among the 20 towns and the City of Beacon. After October 7, 2020, applications will be approved on a first-come, first-served basis.
NEWS STORY PROVIDED BY: Mid Hudson News -www.midhudsonnews.com