Sponsoring Agency: City of Akron
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/01/2021
Size of the Fund: Less than USD $50,000
The City of Akron is seeking applications for its Great Streets Storefront Relief Grant Program to assist storefront operators in the Great Street Districts of the City of Akron to help pay the costs of business interruption required by closures or costs for which businesses face uncertainty as to their ability to pay due to the pandemic.
The City of Akron recognizes that Coronavirus Disease 2019 (“COVID-19”) has had a significant detrimental impact on the health and economic wellbeing of the residents and businesses within the City of Akron, which has been particularly acute for local small businesses.
Storefront businesses support the city’s economic development ecosystem through employment, improving safety, retaining talent, adding character and vibrancy to the neighborhood, and contributing to the local economy. These businesses have been especially impacted by the pandemic and, as such, The City of Akron has made $1,500,000 available to provide grant funding and support for a relief grant program targeting businesses with storefronts in the Great Streets Districts of the City of Akron in order to reimburse them the costs of business interruption caused by required closures due to COVID-19; which is an appropriate use of funding under section 5001 of the CARES Act.
Generally, the amount of the grant per business will be up to $4,000 based on demonstration of the costs of COVID-19 impact and/or business interruption of an amount equal to or greater than $4,000.
To be eligible for grant funds under the Program, businesses must meet the following requirements, as of March 1, 2020:
The business must operate for profit. Non-profit entities of any type are not eligible. (Business that is for-profit generally files an IRS Form 1040 with a Schedule-C, 1040-SR with a Schedule-C, 1065, 1120 or 1120-S.)
The business may be a sole proprietorship, partnership, corporation (both S and C), professional association, limited liability company, limited partnership, or limited liability partnership. If a corporation, professional association, Limited Liability Company, limited partnership or limited liability partnership, the business must be registered with the Ohio Secretary of State to do business in the State of Ohio. Documentation to establish the legitimacy of the business will be requested through the application process.
o Acceptable documentation could include but is not limited to evidence of existence of registration of a trade name with the Ohio Secretary of State; income tax returns including business income and expenses and noting the name of the business on the return; business banking or credit accounts; or similar documents.
o In the event that documentation is not available as listed above, the Chamber as administrator of the program, may make a determination of legitimacy for the business based on its review and examination of other evidence as it determines is appropriate. Any decision to accept alternate documentation is at the sole discretion of the Greater Akron Chamber and its Grant Review Team.
o The business must be a storefront or retail operation located in one of the City of Akron’s Great Street Districts. For purposes of this program, an eligible storefront or retail operation will be a street/pedestrian walkway facing, ground floor (street level) or 2nd floor commercial business storefront within the twelve Great Streets districts. If in doubt, the Greater Akron Chamber will have the sole discretion to weigh the characteristics of the applicant’s operation with the goal of the program and make a determination of eligibility for the program.
The applicant’s storefront operation must have been actively established or committed to ongoing operating expenses by March 1, 2020. To the extent there are questions about meeting this requirement, upon request, that date must be evidenced by business bank account documentation, business tax documentation, credit accounts, occupancy permits, business operating licenses or other documentation acceptable to the Chamber, in its sole discretion, as evidence of operations will be required. In cases where business transitions, ownership changes or other activities disrupt the ability to provide specific documentation, the Chamber as administrator of the program, may decide on the legitimacy for the business for eligibility based on its review and examination of other evidence as it determines is appropriate.
The business must not be permanently closed and must indicate based on answers in its application that it intends to continue its business operations following the COVID-19 pandemic.
The business must have fewer than 50 employees. For purposes of this criteria, “employee” shall mean an individual who (i) is employed as an employee who regularly works at least 20 hours per week and who is provided an IRS Form W-2 at the end of each calendar year, (ii) is independently contracted with the business, regularly works at least 20 hours per week and who receives an IRS Form 1099 at the end of each calendar year, or (iii) the principal owner(s) of the business, the sole proprietor, or partners, whichever is applicable, provided, however, that the principal owners, sole proprietor or partners need not be included in the number of employees if it would cause the business to exceed fifty individuals employed.
The business must attest to having less than $5 million in annual gross receipts.
The business must attest to not be in receivership or bankruptcy.
The business must attest to the fact that it is current on all federal, state, and local taxes or is a party to a valid and current delinquent tax contract or payment plan as of the date of application. Those on payment plans will be deemed current if plan payments are up to date as of the application date. All businesses will be required to provide the businesses’ federal employer identification number, or, if the business does not have a federal employer identification number, the social security number for the primary owner and under which the business operates.
While prior receipt of support from other federal grant programs including the SBA Payment Protection Program and the Summit County COVID-19 Small Business Emergency Relief Grant Program does not affect eligibility for this program, applicants may not use the same specific expenses for multiple grant programs supported by CARES Act funding. This “double dipping” of reimbursement for the same specific expense from multiple programs is prohibited by federal law. (e.g., while June rent and July rent could both be reimbursed from these programs, June rent cannot be reimbursed once from one program and then submitted again to a second program.)
More information at: https://gaccovid19.org/great-streets-grant/