News Flash

Home

Posted on: July 28, 2020

Power Incentive Grant

The City of Radford has announced a new grant program to help our local small businesses impacted by the COVID-19 pandemic. Eligible small businesses may apply for grants from this program. The POWER Grant Initiative, Pressing Onward With Economic Resiliency, is a grant for our local small businesses with 50 or fewer employees. This initiative will provide immediate, direct relief from the City to our local small businesses struggling due to the economic shutdown or modification of their traditional service methods.


This funding support is driven by the Coronavirus Relief Fund under section 601(a) of the Social Security Act, as added by section 5001 of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).


City Manager, David Ridpath said, “The $150 billion in federal “Coronavirus Aid, Relief, and Economic Security”, CARES Act, funding package provided to the localities across the country helps our communities with the unexpected cost of COVID related expenses associated with PPE needs, public safety, service alternatives, technology improvements, etc. The POWER Grant Initiative gives us the ability to extend direct funding assistance from the City to our local businesses as a show of our continued support.”


In general, the grant program is an award of funds ranging from $1,000 - $5,000 per business, based on reimbursements of eligible expenses related to the continuity of business during the COVID-19 pandemic. Grant funds will be disbursed on a reimbursement basis only.  Funds will be awarded on a first-come, first-serve basis for all businesses who document and provide eligibility and qualifying reimbursement expenses.


“We are pleased to be able to make the POWER grant program available to Radford businesses. Small business is essential to the success of our community and our local entrepreneurs have done a great job under difficult conditions as they have managed so far during this pandemic. We are all in this together and we will try to find anything we can do to help them survive and thrive,” said Mayor David Horton.


City Council has allocated $200,000 for this program to be administered by the Office of

Economic Development and the Radford Economic Development Authority.


“The POWER Grant Initiative is an opportunity for us to give back to our local small businesses and come together as a community to support them during these unprecedented times,” said Kim Repass, Economic Development Director. “We will get through this together.”



City of Radford

POWER Grant Initiative

The City of Radford has announced a new grant program to help our local small businesses impacted by the COVID-19 pandemic. Eligible small businesses may apply for grants from this program. The POWER Grant Initiative, Pressing Onward With Economic Resiliency, is a grant for our local small businesses with 50 or fewer employees. This initiative will provide immediate, direct relief from the City to our local small businesses struggling due to the economic shutdown or modification of their traditional service methods. In general, the grant program is an award of funds ranging from $500 - $5,000 per business, based on reimbursements of eligible expenses related to the continuity of business during the COVID-19 pandemic.  Program details are included below. This funding support is driven by the Coronavirus Relief Fund under section 601(a) of the Social Security Act, as added by section 5001 of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).  City Council has allocated

$200,000 for this program to be administered by the Office of Economic Development and the Radford Economic Development Authority. Grants for eligible businesses are subject to and dependent upon appropriation of funds by the City Council and approval by the Office of Economic Development and the Radford Economic Development Authority in accordance with the terms and conditions set out below.

Power Grant Initiative Application
Facebook Twitter Email

Other News in Home

Welcome Back to School Safety Tips

Posted on: August 11, 2020
banner

Coronavirus Community Information

Posted on: March 5, 2020