City of Somerville header
File #: 211084    Version: 1
Type: Mayor's Request Status: Approved
File created: 12/15/2020 In control: City Council
On agenda: 12/17/2020 Final action: 12/17/2020
Enactment date: 12/17/2020 Enactment #: 211084
Title: Requesting the repurpose and transfer of $74,218 from the Small Business Assistance Stabilization Fund to the COVID-19 Small Business Emergency Relief Fund.
Code sections: Stabilization Fund -

  Agenda Text

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Requesting the repurpose and transfer of $74,218 from the Small Business Assistance Stabilization Fund to the COVID-19 Small Business Emergency Relief Fund.

 

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Official Text

To the Honorable City Council:

 

I respectfully request that you repurpose and transfer $74,218 from the Small Business Assistance Stabilization Fund to the COVID-19 Small Business Emergency Relief Fund.

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The Small Business Assistance Stabilization Fund was created in response to the Wynn Casino Surrounding Community Agreement. The Surrounding Community Agreement provides a $150,000 payment for business development to prepare local businesses to take advantage of the opportunities provided by the Casino. 

 

This action transfers the unexpended balance of $74,218 and repurpose it for emergency small business relief.

 

My staff will be available to address any questions you may have. Thank you for your consideration of this item.

 

Respectfully Submitted,

Joseph A. Curtatone, Mayor