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.
The City of Akron is a recipient of certain federal aid under section 601(a) of the Social Security Act, as added by section 5001 of the federal Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) which established the Coronavirus Relief Fund and Amended Substitute Ohio House Bill 481 of the 133rd General Assembly (H.B. 481).
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 $500,000 available to provide grant funding and support for a relief grant program targeting businesses with storefronts in the Downtown Special Improvement District 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.
The Program has been created by the City of Akron in order to assist storefront operators in the Downtown Special Improvement District 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 linked guidelines establish the businesses eligible for funding, the type of business expenses that can be paid with grant funds, the application and award process and other general operating guidelines that govern the use of funds and program administration.