Addabbo: Give Grants For Damaged Storefronts
Senator Joseph P. Addabbo, Jr. introduced legislation that will help small businesses in a big way. Under the new legislation, small businesses whose storefronts were badly damaged during Sandy, will receive $10,000 grants.
“As our residents and our local economy work to rebuild and move forward from the horrific consequences of Sandy, this grant program will help to restore a sense of normalcy and send a message that we are ‘open for business’ in the aftermath of the storm,” Addabbo said.
Under the proposed plan, a Hurricane Sandy Storefront Repair Fund would be established to provide grants to businesses with 50 employees or fewer, whose business sustained $10,000 or more in damage due to flood water and other storm-related issues.
Businesses would have until July 1st, 2014 to apply for one of these grants and would have to prove that they meet the definition of small businesses, they were in business prior to Sandy and that the damages were a direct result of the storm. The grant would go towards repairing or replacing storefronts.
“Making these necessary investments in our local businesses and helping them refurbish their devastated storefronts will be repaid over and over again as foot traffic improves in storm-damaged communities, our shopping areas get back to normal and our economy bounces back,” Addabbo said. “I hope that my legislative colleagues will join with me in working to create this needed grant program.”
The Senate Committee of Finance is now considering Addabbo’s legislation.