City Councilor Lan Sena Announcing Legislation to Assist Local Small Businesses
October 29, 2020
Today during a virtual press conference, City Councilor Lan Sena announced she is introducing legislation, R-20-109, to expand the types of small businesses eligible to apply for CARES Act funding grants to include franchises that are independently owned and operated in New Mexico. The legislation also increases the maximum grant amount to $20,000 from $10,000.
On September 21, 2020, the City Council approved Resolution R-20-92, Enactment No. R-2020-097, which approved the use of $10 million of CARES Act funding to provide grants to qualifying small businesses affected by the Public Health Order. Councilor Sena’s legislation amends the eligibility requirements listed in that original resolution.
“We heard from local business owners that there was a much greater need in the community,” said Councilor Sena. “If Council approves this change, we’ll be able to help more businesses during this difficult economic time.”
The City’s Economic Development Office is currently accepting applications for CARES Act grant funding through their website; https://www.cabq.gov/economicdevelopment/small-business-economic-relief-grant/small-business-economic-relief-grant. Round 1 of funding will be closing this week, with Round 2 scheduled to begin on November 9th and Round 3 on November 30th.
Councilors Sena’s bill, R-20-109, will be introduced and heard for immediate action at the next City Council Meeting on Monday, November 2, 2020.