VENTURA COUNTY, Calif. -- The County of Ventura CEO's Office is finalizing a $20 million Economic Stabilization and Recovery Program that will launch on June 17.
This program is aimed to help provide relief to businesses and families by utilizing funding from the Federal Coronavirus Relief Fund.
The first program the County will provide is an Economic Stabilization and Recovery Program for businesses. The County consulted with the Economic Development Collaborative, Women’s Economic Ventures and the Ventura County Community Foundation to help develop this program. They hope that it will provide business assistance grants to local businesses.
The second part of the program is for rental assistance and the County say it is intended to serve as bridge funding for residential rent while other funding opportunities are being considered at the state and federal level.
The program will grant $5,000 each to small businesses to help alleviate impacts from the COVID-19 pandemic. They hope this will help with payroll support, rent and lease payments, costs for protective equipment, purchases related to operations and business expenses in compliance with protocols for reopening.
They hope this program will help stabilize housing for the lowest-income residents, those at greatest risk due to loss of employment, loss of work hours or the inability to work due to child care needs, family/elder care needs, or substantial medical costs due to COVID-19.
The County says that though the funding may not fully cover monthly rent, it will assist in reducing amounts owed.
The program will provide micro-grants to low-income individuals and families. The grant amount will be based on rental unit size, $1,500 for a studio/1 bedroom and $2,500 for a 2 bedroom or larger, with a maximum of two months of rent owed.
Both programs will go before the Board on Tuesday, June 9 at 8:30 a.m. at the regularly scheduled Board of Supervisors Meeting.
The County board meeting will be streamed live at www.vcemergency.com.
Applications for these programs will be available June 17, for the application click here.