Re-Establishing Economic Relief Programs in Response to the COVID-19 Public Health Emergency
In the spring of 2020, the Town Council established a Business Assistance Program responding swiftly to the economic crisis brought on by the COVID-19 pandemic. As the virus continued to spread around the world and community spread began increasing by the fall of 2020, the number of cases and percentage of those positive for the virus has increased significantly resulting in Public Health Orders closing or limiting many businesses to indoor activities and customers.
At the December 8th Frisco Town Council meeting, the Frisco Town Council asked staff to conduct a business impact survey to gather feedback from local businesses in order to launch a second business assistance program, which would strategically support those businesses with the most need. Data from that survey, as well as staff analysis, provided the Town Council with the information that they needed to thoughtfully arrive at the second business assistance program of 2020. During a special Town Council meeting on December 21, Town Council approved an emergency ordinance, which dedicated a total of $500,000 to two grant programs, the Frisco General Business Assistance Grant Program and the Frisco Business Innovation Grant Program.
December 2020 Frisco General Business Assistance Grant Program
The Frisco Town Council acknowledges that some businesses have been more severely impacted than other businesses throughout this pandemic, and therefore, the General Business Assistance Grant is a tiered program designed to help businesses who need the most support. Grant funding is based on loss of revenue from January 1, 2020 through November 30, 2020, as compared to the same time frame in 2019, and business rent or mortgage amount. Businesses that have incurred:
- Less than 15% loss are not eligible
- 16% – 20% loss may receive up to $2500 or 2x monthly rent/mortgage (whichever is less)
- 21% – 25% loss may receive up to $5,000 or 2x monthly rent/mortgage (whichever is less)
- 26% – 30% loss may receive up to $7,500 or 2x monthly rent/mortgage (whichever is less)
- 31% or greater loss may receive up to $10,000 or 2x monthly rent/mortgage (whichever is less)
Eligibility – To be eligible to receive a grant under the Business Innovation Grant Program, the business:
- Must have had its operations severely limited by having been prohibited in sales or service to the public, or prohibited or severely limited from onsite consumption of foods or beverages, by one or more of the public health orders issued in connection with COVID-19
- Must have a current, valid Town business license issued on or before March 1, 2020, be current in sales tax remittance to the Town of Frisco, and still be in operation as of the date of the grant award.
- Must be located within the Town of Frisco jurisdictional boundaries. Short-term rental property owners are specifically excluded; short-term rental property management companies for those with a physical business located within the Town of Frisco may apply.
- May not be
- a publicly traded corporation
- owned by, controlled by, or a subsidiary of a publicly traded corporation
- an entity that has more than $2,500,000 in annual gross revenues
- owned by, controlled by, or a subsidiary of any such entity
- Must be able to demonstrate a decline in gross sales or revenue between January 1, 2020 to November 30, 2020 as compared to January 1, 2019 to November 30, 2019 as certified and approved by the Town of Frisco through reported gross sales receipts, or a Town-approved affidavit affirming gross revenues
- Must have at least ONE employee currently employed, which may include the owner/manager if the owner/manager works in the business as an employee
- Must submit a Town-approved application on or before close of business December 30, 2020 (for first round of funding) and should funds remain available, submit a Town-approved application on or before January 31, 2021
December 2020 Frisco Business Innovation Grant Program
Town Council approved the Business Innovation Grant Program to support businesses which have been innovative during the pandemic and pivoted quickly to adapt to public health orders. The Innovation Grant offers up to $5,000 per business as reimbursement of expenses incurred for structural and technical implementations.
To be eligible to receive a grant under the Business Innovation Grant Program, the business:
- Must have a current, valid Town business license issued on or before March 1, 2020, be current in sales tax remittance to the Town of Frisco, and still be in operation as of the date of the grant award.
- May not be
- a publicly traded corporation
- owned by, controlled by, or a subsidiary of a publicly traded corporation
- an entity that has more than $2,500,000 in annual gross revenues
- owned by, controlled by, or a subsidiary of any such entity
- Must be a physical business located within the Town of Frisco jurisdictional boundaries and within the Town’s commercially zoned areas (not residential areas)
- Virtual and remotely operating businesses are excluded
- Short-term rental property owners specifically excluded
- Short-term rental property management companies with a physical business located within the Town of Frisco are included
- Must be able to demonstrate expenses incurred for innovative and adaptive measures implementing structural or technical improvements (e.g.: outdoor dining structures, improved air filtration systems, new/improved no-touch features for customers, and improved technology modifying business operations to meet public health constraints, etc.)
- Operational expenses are excluded- such as but not limited to cleaning and sanitation supplies, expenses for cleaning, etc…
- Must submit a Town-approved application on or before close of business December 30, 2020 (for first round of funding) and should funds remain available, submit a Town-approved application on or before January 31, 2021
Applications are available online at ChooseFrisco.com.