Title
Receive a report from the Monterey County Workforce Development Board (MCWDB) on the Monterey County CARES Small Business Relief Program (SBRP), through which 341 grants were awarded to 290 small businesses in Monterey County
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Receive a report from the Monterey County Workforce Development Board (MCWDB) on the Monterey County CARES Small Business Relief Program (SBRP), through which 341 grants were awarded to 290 small businesses in Monterey County
SUMMARY:
In October 2020, the Board of Supervisors of the County of Monterey ("the Board") approved the creation of a small business relief program to be administered by the Monterey County Workforce Development Board (MCWDB), with the aim of saving jobs and preventing the permanent closure of businesses during the COVID-19 pandemic that had spurred a public health crisis and subsequent economic crisis. Round 1 of the Monterey County CARES Small Business Relief Program (SBRP) was immediately launched with Coronavirus Aid, Relief, and Economic Security (CARES) Act funding (using $468,000 reallocated from the County's District Attorney's Office), and by mid-November 152 applications had been received for small business grants through the program. Noting the large number of applications received and emphasizing the importance of helping the county's small businesses, the Board allocated an additional $878,643 to fund all eligible businesses that had applied in the first round. Because this financial assistance was critical to the ability of many businesses to remain open, keep workers employed, and continue providing products and services through the pandemic, the Board went on to approve two more rounds of funding for the SBRP ($800,000 for Round 2 allocated in December, which were CARES Act funds reallocated from the County Health Department, and $900,000 for Round 3 allocated in February). In all, $3,046,643 was provided to the MCWDB for the...
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