BLOOMINGTON-NORMAL, Ill. (WMBD) – Bloomington is receiving $3.2 million from the federal government to assist them for what leaders call “revenue issues:.
The money comes from the federal government and was given to the state to help municipalities struggling with budget woes due to the pandemic. The state used the money to set up the Coronavirus Urgent Remediation Emergency Program.
Bloomington Finance Director, Scott Rathbun says, the city is expecting about a $2.7 million loss in revenue due to the pandemic.
He says while that number is signicantly less than the city had expected, the money will still be great help.
SMALL BUSINESS RELIEF PROGRAM:
Small businesses in the Town of Normal now have a chance to make up for revenue lost during the pandemic.
Leaders are using federal funds to create a small business relief program offering companies with 50 or fewer employees up to $15,000. The town was granted nearly half-a-million dollars through the federal governments CARES Act, to assist retail stores, restaurants, and bars that have been forced to slow operations or shut down.
Eligible businesses must have been up and running no later than January 1st of this year, and must be up-to-date on all state tax obligations.
Applications will begin being accepted on December 1st.
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