MADISON, Wis. — Downtown Madison companies which have been impacted by COVID-19 and looting may obtain assist from the town because of a proposed restoration program.
Metropolis leaders introduced Thursday the “Downtown Restoration Program” to assist present grants of as much as $25,000 for companies to make use of for restore prices or insurance coverage deductibles for any harm triggered through the civil unrest that occurred in late Could.
“I’ve spoken with dozens of State Avenue space enterprise and property homeowners, who’ve expressed the necessity for monetary help to restore the harm to their companies and properties, which had been already struggling after months of the pandemic,” mentioned Alder Mike Verveer, District 4, who represents the realm most impacted. “These grants are desperately wanted and will probably be very welcome information to our downtown companies.”
The grant program was first launched at a Madison Frequent Council assembly earlier this week. The main points of this system are anticipated to be mentioned on the Madison Finance Committee assembly scheduled for Monday.
In keeping with a information launch from the town, roughly 70% of the companies on State Avenue are regionally owned and operated. About 62% of companies are owned by ladies and other people of coloration.
A recent survey performed by Madison’s Central Enterprise Enchancment District revealed that 41 enterprise homeowners mentioned the pandemic and the destruction would make it tough for them to reopen and will trigger them to shut completely.
“We hope these funds will make a distinction for the mother and pop outlets within the downtown enterprise district. I hope everybody in Madison will take into consideration purchasing native earlier than they place an order on-line, and step up their assist of our native companies as they battle in these tough occasions,” Mayor Satya Rhodes-Conway mentioned.
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