HomeMy WebLinkAbout05(F) - Approve CARES Act - Coronavirus Relief Fund Expenditures Report
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 20-____
A RESOLUTION APPROVING FUNDING TO PARTICIPATE IN THE
SCOTT COUNTY CDA SMALL BUSINESS RECOVERY FUND
Motion By: Second By:
WHEREAS, The Scott County Community Development Agency (CDA) has established a small
business recovery fund to assist small businesses adversely impacted by the
COVID-19 pandemic; and
WHEREAS, Businesses in Scott County who meet certain criteria may receive a grant of up to
$5,000 to assist with recovery efforts; and
WHEREAS, Funds can be used to assist with critical expenses such as payroll obligations, rent
or mortgage payments, utilities, accounts payable, or other critical business
expenses as approved by the fund administrator; and
WHEREAS, The recovery fund will be administered through NextStage, a local non-profit that
provides technical assistance and support to small businesses and entrepreneurs
in Minnesota; and
WHEREAS, The grant program has been structured in a way that individual cities can partner
with the CDA to assist more businesses in their communities if they wish; and
WHEREAS, NextStage has provided an addendum to the CDA program agreement that allows
a community to provide local funding to assist businesses within their specific
community; and
WHEREAS, On August 3, 2020 the Prior Lake City Council reviewed the CDA Small Business
Recovery Fund and elected to provide CARES funds to assist additional Prior Lake
businesses.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. An allocation of up to $108,000 of CARES Act funds shall be provided to assist Prior Lake
businesses adversely impacted by the COVID-19 pandemic.
3. The City Manager is authorized to execute an Addendum to the Contract for Services
between the Scott County CDA and NextStage for City of Prior Lake participation in the
Scott County Business Assistance Program.
O:\CARES $ Expenditure Reimbursement\COUNCIL - 8.17\Attachment D - Revised SCCDA Small Business Recovery Fund_Res.docx
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Passed and adopted by the Prior Lake City Council this 17th day of August 2020.
VOTE Briggs Thompson Burkart Braid
Aye ☐ ☐ ☐ ☐
Nay ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐
______________________________
Jason Wedel, City Manager