BEAVER DAM, Ky. — The city of Beaver Dam has created a grant to help local businesses affected by the Coronavirus pandemic and the restrictions caused by it.
At a special-called meeting of the Beaver Dam City Commission, Friday, the commission approved a motion to create the COVID-19 Emergency Restart grant.
The COVID-19 Emergency Restart grant was created to help ease the burdens of business reopenings after emergency closing due to the Coronavirus pandemic. Those receiving the grant may use the funds for business expenses incurred beginning March 18, 2020, when Beaver Dam Mayor Paul Sandefur issued Executive Order 2020-01 declaring a State of Emergency. The grant funding will be based on the availability of funds. The filing of an application for the grant does not guarantee funding and grants will be awarded on a first-come, first-served basis. No grants will be awarded retroactively.
Applications must meet the program’s criteria and all applications will be reviewed. Applicants who don’t comply with program criteria and conditions will not be eligible for funding.
Applications for the grant must be submitted no later than 4 p.m. Monday, Dec. 21, 2020. Applications are available at Beaver Dam City Hall.
1. The grant is available to businesses principally located in the city limits of Beaver Dam, Kentucky. Non-profit organizations and publicly traded companies are not eligible.
2. Businesses with 10 or fewer employees (including owners) will be given preferential consideration.
3. Businesses should be in good standing with all City of Beaver Dam accounts. (Business license, water accounts, restaurant tax accounts, etc.) Any grant approved for applicants with bad standing accounts must first apply the funds to city account deficits.
4. Grants for approved businesses will be awarded up to $3,000.
5. Each business is only eligible for one grant.
6. The owner must submit an application with a complete description of the negative impact of COVID-19 on their business as well as what expenses the funds will be used. The City will review and make a recommendation for approval or denial and amount awarded.
7. Grant monies will be issued to the applicant upon approval to be used exclusively for business operations in the City of Beaver Dam.
8. Ineligible expenses include but are not limited to: personal purchases, business improvements, pay taxes, liens, outstanding government debt (with exception of Beaver Dam delinquent accounts).
9. To be eligible, the applicant must reopen and/or maintain regular business operations and use grant funds to maintain operations in the City of Beaver Dam.
Eligible Expenses
- Mortgage/Rent
- Utilities
- Payroll (excluding owners salary)
- Inventory/Equipment
- Professional Consultant Fees (ie. accountant, attorney, etc.)
10. Businesses to whom grants are awarded must submit receipts and proof of funds spent on qualifying expenses no later than Dec. 29, 2020.