COVID 19 Spending Framework — original pdf

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COVID-19 Spending Framework Economic Recovery • June 9, 2020 1 COVID-19 Spending Framework Small Business Assistance – $17.5M Commercial Loans for Economic Assistance & Recovery (CLEAR) Fund - $16.5M • Grants up to $40,000 for small businesses • Phase One: $10.0M (Allocated by City Council through Resolution 20200507-023) • Phase Two: $6.5M (Approved; Would also support commercial property owners) • Profile of small businesses in Austin: • There are 40,350 businesses in Austin with fewer than 25 employees. • Collectively, these businesses employ over 320,000 people. • Average 7.6 employees per inquiry for the Austin Economic Injury Bridge Loan program Long-Term Lease Stability Fund - $1M • Grants up to $40,000 for landlords that agree to enter into favorable, long-term leases with commercial tenants that deliver community benefits • Intended to preserve community assets in vulnerable communities • City Council passed several resolutions to preserve spaces for the creative sector, locally-owned small businesses, and retailers that provide healthy food in underserved areas 2 COVID-19 Spending Framework Creative Sector Assistance – $5M Austin Music Disaster Relief Fund - $1.5M • Grants of $1,000 to musicians for their immediate emergency needs Austin Creative Space Disaster Relief Program - $1M • Grants up to $50,000 to organizations and independent artists facing displacement and difficulty paying rent for their commercial creative spaces Creative Sector Assistance - $2.5 • Grants up to $2,500 for artists, musicians, and other creative-sector independent workers financially impacted by COVID-19 3 COVID-19 Spending Framework Non-Profit Assistance – $6.35M Austin Nonprofit & Civic Health Organization Relief (ANCHOR) Fund - $6.35M • Grants between $10,000 and $20,000 for nonprofits • Phase One: $5.0M (Allocated by City Council through Resolution 20200507-023) • Phase Two: $350K (Approved) • Phase one funds distributed in the following manner: • Health & Human Services - $2M • Workforce Development & Social/Legal Services - $1.25M • Education - $1.25M • Arts & Culture - $1M • Environment & Animals - $0.5M • Profile of non-profits in Austin: • 4,443 non-profit organizations in Austin • Roughly 21,000 non-profit sector workers 4 COVID-19 Spending Framework Worker and Customer Safety – $2.5M PPE and Business Modification Grants- $1M • Grants for the procurement of personal protective equipment and the modification of businesses to COVID-compliant standards for safe re-opening. Employee Medical Assistance Program - $1.5M • Contract with counseling services provider to expand access for workers dealing with COVID-related mental health challenges. • Targeted specifically to low- and moderate-income workers without employer- provided access to healthcare in customer-facing roles. 5 COVID-19 Spending Framework Technical Assistance – $1M Technical Assistance Support Fund - $1M • Contracted services to provide free technical assistance for businesses and non-profit organizations. • The funds will be utilized to procure contractors (or expand existing contracts) to support development of outreach, curriculum development and technical assistance to achieve increased support in: • Organizational Disaster Recovery/Resiliency • Capacity Building and COVID Compliance • Non-Profit Operations/Management • Funds not utilized for Technical Assistance will be rolled into the small business grant program 6 COVID-19 Spending Framework Economic Recovery • June 9, 2020 7