Breckenridge expands Small Business Rent Relief Program to include additional businesses
BRECKENRIDGE — The town of Breckenridge has expanded its Small Business Rent Relief Program, which launched at the end of March to help businesses stay afloat amid the COVID-19 shutdown.
The grant eligibility requirements now include larger businesses as well as business owners who own their buildings, allowing the money to be used for mortgage assistance when it previously was reserved for rent payments.
The updated criteria prevents businesses that have applied for the federal Paycheck Protection Program from applying for the Breckenridge Rent Relief Program because rent and mortgage relief is already included with the federal program.
“The business loan program is sailing along really well right now,” Mayor Eric Mamula said in his Facebook video update. “We’re opening up to some mortgages instead of just rent, and we’re opening up to some larger businesses.”
Now, business owners who own their building or unit can receive $2.58 per square foot of space up to $4,000. Business owners who own the space must provide documentation of owning the business and the real estate. Businesses owners who apply for the grant also must employ 35 or fewer full-time equivalent employees based on the 2020 Business and Occupational License Ordinance report. The original criteria had a tighter employee limit, set to 16 employees.
Haley Littleton, spokeswoman for the town, wrote in an email that the program has provided $453,229 out of the $1 million that has been set aside. The program has aided 153 businesses, and 19 applications are being reviewed. Every business that qualifies is being awarded the grant, Littleton added.
“After looking at the initial numbers of grants given, the Town Council decided at their meeting that there was enough money to expand the criteria to incorporate more businesses,” Littleton wrote in an email. “They expressed a desire to help as many people as they could.”
“Hopefully, we can help some more people out,” Mamula said in the Facebook video update. “The reason we didn’t do it at the get-go, obviously, was we didn’t know how much money this was going to take.”
Littleton also noted that while Mamula has stepped in at times to mediate relationships between landlords and tenants, because the program requires cooperation on the part of both parties, the town has generally seen smooth interactions throughout the program.
Breckenridge business owners who wish to apply for the program can do so at Breckenridge-Tuition-Assistance.FluidReview.com.
Support Local Journalism
Support Local Journalism
As a Summit Daily News reader, you make our work possible.
Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.
Your donation will be used exclusively to support quality, local journalism.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User