Program Guidelines - Small Business Rental Assistance Grant - Round 2 | Downtown Alliance

Program Guidelines - Small Business Rental Assistance Grant - Round 2

Alliance for Downtown New York Small Business Rental Assistance Grant

PROGRAM GUIDELINES AND DIRECTIONS
ROUND 2

 

  1. Business and Geographic Eligibility. Any essential small business, as defined in Governor Cuomo’s PAUSE order of March 22, 2020, which is open and operating and located in Lower Manhattan south of Chambers Street and the Brooklyn Bridge in New York City. 

     

    A small business is defined as one that has fewer than 30 FTE (full time equivalent) employees as of March 1, 2020 and gross annual revenue of less than $3 million for Applicant’s most recent tax year and excludes national chains, franchises and businesses that have more than five (5) locations in New York City. 

    To be eligible, your small business must have a current lease, or an option to renew it, for a ground-floor storefront business in Lower Manhattan south of Chambers Street and the Brooklyn Bridge through at least December 31, 2020. Proof of lease term is required.
     

  2. Amount and Use of Grant. Grants are in the amount of $10,000 each and the proceeds may be used only for rent payments for Applicant's eligible small business. We will require proof of such payments for April, May or June, 2020 or potentially for later months if landlord has given approval for rent deferral.
     
  3. Processing of Applications. Applications are available online and completed applications, with the following attachments, must be submitted electronically:
    First page, signature page and page showing lease term of storefront lease
    Main pages of last filed federal tax return (2019 or 2018) showing gross revenues
    Q4 2019 IRS Form 941 showing number of employees

    Completed applications will be logged in as received. The Downtown Alliance reserves the right, but shall not be obligated, to request additional supporting materials with respect to this Application.  
     

  4. Grants Awarded on a Pending Basis. All grants awarded will be on a pending basis, subject to receipt by the Downtown Alliance of the documents indicated in paragraph 5 below.
     
  5. After Notification of Pending Award. After notification of a pending award, Applicant will be required to disclose its ACH transfer information. All grant proceeds will be sent via ACH transfer only. In addition, Applicant will be required to provide proof of rent payment for April, May or June, 2020 or potentially for later months if the landlord has given approval for rent deferral. If you have come to such a deferral agreement with your landlord and can provide proof, we will hold funds on your behalf and disburse grant funds upon confirmation that all or a portion of future rent has been made. However, if Applicant does not pay rent for an extended period of time, the Downtown Alliance reserves the right to rescind any pending grant awarded to Applicant.
     
  6. Modification of Guidelines and Disclaimer. The Downtown Alliance reserves the right to modify these Guidelines from time to time to maximize their utilization and effectiveness. The Downtown Alliance does not express any opinion as to whether grant funds will be treated as taxable income by the taxing authorities. Please consult your tax adviser.
     
  7. Other. Applicant attests that it possesses the full power and authority to apply for the grant on behalf of itself and will comply with all applicable federal, state, and local laws, and executive orders. 

    Grant recipients agree to be featured in marketing and promotional materials including but not limited to: a feature on the Downtown Alliance website, digital and print newsletter feature, the annual and/or quarterly report, and all social media outlets.