Mayor Wiza announced that Stevens Point is providing grants to nearly 80 small, local businesses to help cover rent and mortgage payments on their commercial properties. The City received about 165 applications which totaled roughly $235,000 in requests.
On April 20, the Common Council approved up to $100,000 in grant funding on a first-come, first-served basis.
“I know we won’t be able to help everyone who needs it, but this does help fill a gap left by all of the other assistance that is being made available from Federal, State, and local agencies," said Mayor Wiza. “We wanted to make sure the small businesses who have invested in our community were offered a little help from the City they have supported. I only wish we could do more.”
The grant was offered to commercial properties in the City with fewer than 10 full time equivalent (FTE) employees. Franchises were not allowed, and applicants must be in good standing with the City and with the State Department of Financial institutions.
“People who were past due on property taxes, personal property taxes, or not in good standing with the State didn’t qualify,” said Community Development Director, Ryan Kernosky. “We also had businesses apply that weren’t within the City limits, which speaks to the great need that these businesses have throughout central Wisconsin.”
“Ryan was instrumental in making this project happen. The hard work and long hours put in by him and his staff is the only way we could quickly get the funds in the hands of our small businesses,” Wiza said. “And the many people on the Economic Recovery team who have been working to help keep our businesses afloat during this crisis deserve a big ’Thank You,’ too.”
Notification emails and letters will begin going out today, and the awarded grant checks should be mailed early next week.
More information can be found at PortageEconRecovery.org.