HomeMy WebLinkAboutItem 5 Memo on Small Business Relief 1.26.21City of Lakeville
Community & Economic Development
Memorandum
To: Economic Development Commission
From: Kati Bachmayer, Economic Development Coordinator
Copy: Justin Miller, City Administrator
David L. Olson, Community & Economic Development Director
Date: January 26, 2021
Subject: Update on Small Business Relief Programs
The City Council approved a third grant round to assist Lakeville businesses that were
specifically shut down by Executive Order 20-99. The application window for the $5,000 grant
was December 22-31, 2020. The City approved 50 applicants (out of 51) and has issued grant
payments to all eligible businesses, totaling $250,000.
The State of Minnesota is providing financial relief to certain industries, including $88 million
to businesses closed to the public under Executive Order 20-99 (and experiencing at least a
30% sales decline) and $14 million for movie theaters and convention centers with a capacity
of at least 1,500 people. The state legislature also approved $114 million for county grant
programs that support eligible businesses and nonprofits impacted by any executive order
related to COVID-19.
Dakota County also conducted a third grant round in late December. $5,000 grants were
provided to eligible active liquor license holders. Overall, Dakota County provided $1.5
million in grants to 113 Lakeville small businesses. Information on the 2021 Dakota County
grant program (using state funds), has not yet been announced.
Quick Reference
First Round
• CARES Act dollars
• Up to $10,000
• 78 applications
• 41 businesses were approved
• Totaling almost $400,000
Second Round
• CARES Act dollars
• Up to $10,000
• 53 applications
• 10 grants
• Totaling nearly $100,000