HomeMy WebLinkAbout09 COUNTY OF ORANGE ECONOMIC SUPPORT FUNDS- PHASE III SMALL BUSINESS GRANT PROGRAM DocuSign Envelope ID:CAB57C8D-3609-462D-8071-279DAF807D2E
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AGENDA REPORT
Reviewed: ?�5W
City Manager
Finance Director N/A
MEETING DATE: FEBRUARY 2, 2021
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: MATTHEW S. WEST, CITY MANAGER
SUBJECT: COUNTY OF ORANGE ECONOMIC SUPPORT FUNDS — PHASE III SMALL BUSINESS
EMERGENCY GRANT PROGRAM
SUMMARY:
Request for authorization to accept and appropriate County of Orange Economic Support Funds
for Phase III of Tustin's Small Business Emergency Grant Program.
RECOMMENDATION:
Authorize the City Manager to Accept and Appropriate funds received from the County of Orange for
Economic Support in the amount of$273,800.
FISCAL IMPACT:
There is no fiscal impact to the City.
CORRELATION TO THE STRATEGIC PLAN:
This action correlates to the City's Strategic Plan for Economic and Neighborhood Development(Goal
A).
BACKGROUND:
On June 2, 2020, the City Council authorized the Tustin "COVID-19 Aid, Relief, and Economic
Security" (CARES) Program, which included the establishment of the Tustin Small Business
Emergency Grant Program to provide financial assistance, based on the availability of funds, to
small businesses impacted by the COVID-19 public health emergency. The City's Economic
Development Department has been responsible for oversight of the Small Business Emergency
Grant Program and disbursement of funds has taken place through the City's Finance Department.
The City partnered with the Orange County-Inland Empire Small Business Development Center
(OC-IE SBDC) to assist with program administration, marketing, application processing,
underwriting and review and approval of financial and business documentation for disbursement
approval.
To date, through Phase I and II of the Program, the City has distributed two hundred and thirty-four
(234) $10,000 grants to commercial businesses and twenty-four (24) $2,500 grants to home-based
businesses for a total of$2,400,000.
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DocuSign Envelope ID:CAB57C8D-3609-462D-8071-279DAF807D2E
COUNTY OF ORANGE ECONOMIC SUPPORT FUNDS — SMALL BUSINESS EMERGENCY GRANT
PROGRAM
February 2, 2021
Page 2
In January 2021, the County of Orange allocated $273,800 in County General Funds to the City for
the purpose of providing economic support to small businesses due to the COVID-19 public health
emergency. In order to assist as many small businesses as possible with a limited amount of funds,
staff is recommending the City award grants in the amount of $5,000 in Phase III of the Small
Business Emergency Grant Program. Staff anticipates awarding fifty-four(54) $5,000 grants and one
(1) $3,800 grant to commercial small businesses of twenty-five (25) employees or less. Priority will
be given to businesses who have not previously received a small business grant from the City in
either Phase I or Phase II. OC-IE SBDC has agreed to partner with the City in administering Phase
III of the grant program at no cost.
1504758.1