(BEDFORD) – The City of Bedford held a public meeting Monday on submitting a grant application and local match commitment to the Indiana Office of Community and Rural Affairs (OCRA) to provide needed funds to businesses within the city affected by COVID-19.
Trena Carter from ARA provided the public and city council members information on the grant.
No one from the public spoke for or against the proposal. The city will be committing a total of $14,473 towards the grant should it be awarded.
The total grant amount is for $123,355.
The city applied for the first round of grant funding, however, the city did not receive any funds.
Lawrence County did receive the grant, and some businesses within the City of Bedford applied for and received some aid.
The grant application is due by July 31, and the City will find out in mid-August if the grant was awarded to the city.
Distribution to the businesses selected will not happen until after January 2021.
The business selected will be chosen by a committee selected by Bedford Mayor Sam Craig.
Some of the requirements for small businesses to apply include:
- 51 percent of employees must be low to moderate-income.
- Gross income cannot exceed over $ 1 Million.
- Funds must be for re-hiring, training, and general expenses of the business.