Financial Relief Resources
SLO County and its cities are set to receive $85M in federal COVID relief funds, with the City of Paso Robles receiving $6.05M as our portion. There are some restrictions on how the funds can be spent and when we receive the funds, but it is more flexible than last year’s CARES Act funding. City staff will be returning to Council for discussion on that funding allocation at a future meeting.
Paso Robles Economic Recovery Package
Council allocated $235,000 in General Funds for three economic recovery and business assistance measures:
- $60k for maintaining parklet infrastructure through June
- $100k for propane heating assistance
- $75 for Economic Recovery, such as a Buy Local campaign, micro-grants, or other measures as determined by local business input
If additional pandemic funding becomes available, General Funds would be replenished if allowable.
SBA COVID-19 Resources
Shuttered Venue Operators Grant applications will start being accepted on April 8, 2021.
This program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Restaurant Revitalization Fund
Congress recently took action and created the Restaurant Revitalization Fund (RRF), a $28.6 billion grant program targeted at small restaurants. An eligible business may receive a tax-free federal grant equal to the amount of its pandemic-related revenue loss, calculated by subtracting its 2020 gross receipts from its 2019 gross receipts. Eligible entities include a restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products.
Governor Newsom Signs New Pandemic Relief Package
SACRAMENTO (February 23, 2021) - Governor Newsom signed into law a comprehensive package of immediate actions that will speed needed relief to individuals, families, and businesses suffering the most significant economic hardship due to COVID-19.
- Cash relief to lower-income Californians
- Increased aid to small businesses
- License renewal fee waivers to businesses impacted by the pandemic
- Additional resources for critical child care services
- Emergency financial aid for community college students
SBDC Stimulus Package Update
- New tax treatment of PPP expenses
- New round of PPP, program updates and changes
- Grants for EIDL advances and other changes
- Extended SBA Debt Relief and Programing
- Extension and Expansion of the Employee Retention Tax Credit (ERTC)
- Unemployment Assistance