Denver will release $20 million of its federal CARES Act funds to support residents and businesses impacted by the COVID-19 pandemic.
The funds are the city’s first release of about $126.8 million received from the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act), according to a Tuesday news release.
The initial release will be used to “support residents with housing and food assistance, provide economic relief for local small businesses and non-profits, and to support widespread community testing and other public health programs and needs,” the release said.
“Our residents need more relief, and these are programs we can deploy funding to right now to support people’s and family’s housing, food and job security, as well as our community’s public health, during this pandemic,” Mayor Michael B. Hancock said. “We know there is more we can do to help our community and families during this challenging time for all of us, and we’re committed to working with our partners and members of City Council to address those needs through these emergency relief funds.”
Phase one emergency support funds include:
- Housing relief — $6.5 million in rent and utility assistance
- Food assistance — $2 million
- Nonprofit and business relief — $6.5 million
- Public health and safety needs — $5 million
Officials are initiating a collaborative process with City Council and the Recovery Council on disbursement of the remaining CARES Act funds, the release said.
Denver Economic Development & Opportunity will be awarding $750,000 to $1 million in grants to support small businesses. The grants are in partnership with Mile High United Way.
Source: Read Full Article