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City of El Dorado Receives $132,000 for COVID Business Relief Funds
July 24, 2020 – The City of El Dorado received an award of $132,000 from the Kansas Department of Commerce as part of the second round of Community Development Block Grant funding made available to assist businesses through the COVID-19 pandemic. The City originally applied for funding under the program in early June, although did not receive funding due to the number of applications and the lack of funding for all requests.
Per the Kansas Department of Commerce, the CBDG-CV funds provide communities with funding to help businesses retain jobs for low-to-moderate income people. To be eligible to receive funds, the recipient business must be a for-profit business and fifty-one percent (51%) or more of the full-time equivalent jobs retained must be for persons with low-to-moderate households, as defined by the U.S. Department of Housing and Urban Development (HUD).
“The CDBG-CV funds from the Kansas Department of Commerce provides another opportunity for the City of El Dorado to assist its businesses through the COVID-19 pandemic,” says Mayor Bill Young. “The City is especially grateful to the Kansas Department of Commerce for awarding these funds to our community. The funds will be used to continue to support our business community during these times of uncertainty and difficulty.”
The funds come with special requirements to support the goals of the Kansas Department of Commerce. Eligible expenses for CDBG-CV funds include the following: a) working capital such as wages, utilities, rent, etc.; and b) the purchase of sixty days’ worth of inventory needed to reopen. The sixty days begins on the day the business is allowed to reopen.
Businesses with five or fewer employees (including the owner) are eligible to receive up to $25,000 per full-time job equivalent, with a maximum grant of $30,000 per business. Businesses between six and fifty employees are eligible to receive up to $35,000 for each full-time job, with a maximum grant of $50,000 per business.
“The City appreciates the work done by El Dorado Inc., the El Dorado Chamber of Commerce, and El Dorado Main Street in preparing the necessary information for the original grant application,” says City Manager David Dillner. “The City would not have received this grant opportunity without these organizations’ efforts.”
The City will provide additional information on the grant, including instructions on how to apply, once an application process has been developed. Please check the City’s website at www.eldoks.com for the most up-to-date information on the CDBG-CV grant opportunity.
COVID-19 Relief Grants to Local Businesses Announced
FOR IMMEDIATE RELEASE
The City of El Dorado and the El Dorado Chamber of Commerce awarded $149,977 in COVID-19 Relief Grants to twenty local businesses. Twenty-eight businesses applied for $521,880 in grant funds.
“COVID-19 impacted many businesses in our community in ways that were unforeseen several months ago,” says Mayor Bill Young. “By providing assistance the City can help small businesses that are essential to the fabric of our community. Small businesses provide jobs and invest in the community in ways that make El Dorado an awesome place.”
The City authorized up to $150,000 from the City’s Economic Development Sales Tax Fund to provide the COVID Relief Program to small businesses. The one-cent sales tax, approved by voters every five years and most recently reauthorized in 2018, provided the funded source that will help many businesses survive the pandemic.
“The evaluation committee took into account many factors when reviewing requests for funding,” says Chamber Executive Jordan Buxton. “These factors included federal assistance the business had applied for and received, whether the business was closed during COVID, and the business’ community footprint. In other words, it was very important for businesses to have had a track record of investing in the community.”
Businesses must have experienced business distress and revenue loss as a result of the COVID-19 pandemic and be located within the corporate boundaries of El Dorado to be eligible to receive funds.
The relief funds will assist businesses with unexpected expenses arising from the pandemic such as cleaning and sanitation supplies, general supplies or inventory that support business activity, business materials needed to support operational adjustments due to pandemic, and assistance with lease or utility payments.
The City and Chamber are excited to provide this opportunity for local businesses during the COVID-19 pandemic. A committee comprised of representatives from the City and Chamber reviewed grant applications and decided on award amounts. A list of businesses receiving funds and the amount of each grant may be found on the next page.
Grantee Grant Award
Days Inn and Suites $12,000
Dutton’s Kuttons $3,800
El Dorado Martial Arts $5,000
Family Life Center $1,600
Grizzly Bowl $9,500
H4V Nails & Spa $5,000
H & Co. Salon $5,565
Heritage Inn & Suites $12,000
Kelly’s Etc. $5,000
La Casita $5,000
Oz Events $2,512
Red Coach Inn & Suites $12,000
Studio 142 $2,000
Super 8 Hotel $12,000
Sunset Inn $12,000
Walnut River, LLC $10,000
Walter’s Flowers $10,000
Wilson Chiropractic $5,000
Total Requests $521,880 Total Awards $149,977