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City of Spring Lake Park Business Relief Grant Program The City of Spring Lake Park will offer a business relief grant program to support local businesses impacted by COVID-19. Grants will be awarded in an amount not to exceed $10,000. Applications will be accepted during a 10 day time frame beginning August 17, 2020 at which time the City or its consultant will evaluate the applications. Grants will be awarded based upon the extent of hardship and need. Grant Amount: Grants will not exceed $10,000 to cover eligible expenses incurred as a result of the COVID pandemic after March 1, 2020 (see list of eligible use of grant funds below). Recipient must submit a list of COVID related expenditures during the application review process. Eligibility Criteria:_ • Applicant must be locally owned and operated with a physical establishment in the city of Spring Lake Park. If there is a parent company or a second location outside of the city, only the entity located in city of Spring Lake Park will be eligible. • Applicant must be able to demonstrate financial hardship as a result of the COVID-19 outbreak. • Applicant entity must be majority owned by a permanent resident or corporation of Minnesota. • Applicant must be in good standing with the Minnesota Secretary of State and the Minnesota Department of Revenue as of January 1, 2020. If there is an issue pending with the Minnesota Secretary of State, Applicant may still apply for the grant, but will need to demonstrate the issue has been satisfactorily resolved in order to be eligible and receive grant funds. • If required, Applicant must be licensed, in good standing. • Applicant must be current on property taxes. • Applicant must employ 50 or less employees as of January 1, 2020. • Applicant must have been in operation 12 months prior to application. o The City of Spring Lake Park will not disqualify an applicant if there was an ownership change and the business remained in operation within 12 months prior to application. • Applicant must disclose all federal, state or local grant or loan applications for which applicant has applied which has been received or remains pending at the time of application. Ineiidble Businesses • Applicants who have previously received federal, state or local grants for the same expenses. • Multi -state chains are generally ineligible except for locally owned franchisees. 11Page