The City of Kankakee has allocated over $350,000.00 of its federal American Rescue Plan Act award to fund a local small business grant program titled Kankakee Works. This program is intended to respond to the negative economic impacts of the COVID-19 public health emergency by focusing on the needs of for-profit small businesses within City limits.
The City of Kankakee has allocated over $350,000.00 of its federal American Rescue Plan Act award to fund a local small business grant program titled Kankakee Works. This program is intended to respond to the negative economic impacts of the COVID-19 public health emergency by focusing on the needs of for-profit small businesses within City limits. Grant awards up to $30,000 will help businesses keep their doors open, protect local jobs threatened by the pandemic, support community recovery, and increase resiliency.
Eligible businesses may apply for cash assistance to help mitigate the impacts of revenue reductions associated with the pandemic. The City expects to award approximately 20 businesses a one-time cash grant.
This is a reimbursement program; award payments will be made following execution of a City/Grantee contract and the City’s receipt, review, and acceptance of expense documentation. Grantees will be reimbursed for eligible expenses with appropriate documentation in an amount not to exceed $30,000.00. Expenses must have been incurred between March 3, 2021 and October 31, 2024.
To expedite reimbursement, applicants are encouraged to apply for funding to cover expenses already incurred and for which the applicant has the required documentation. Evidence of expenditures must include sufficient information for the City to determine what the expense was for, to whom it was paid, and when it was paid. Supporting documentation may include copies of cancelled checks, bank statements, credit card statements, and/or vendor receipts.
Application Round Opens: Tuesday January 16, 2024
Submission Deadline: Tuesday, February 13, 2024
Public Presentation: TBD
Award Announcements: Tuesday, March 12, 2024 (Tentative to Council approval)
Contract Start Date: Monday, April 8, 2024
Contract End Date: Tuesday, December 17, 2024
Last Date to Submit Reimbursement Request: Friday, October 18, 2024
Preference will be given to MBE (minority-owned,) WBE (women-owned) and VBE (veteran-owned) businesses, and to those that occupy a vulnerable sector as defined by the U.S. Treasury; this includes but is not limited to restaurant/dining, retail, hospitality, arts and entertainment, or another service sector.
Preference will be given to micro-businesses; this is defined as a business that resides in Illinois and is licensed or registered to do business in Illinois, independently owned and operated, not dominant in its field, and employs 10 or fewer fulltime equivalent (FTE) employees.
Per the Final Rule on Coronavirus State and Local Fiscal Recovery Funds, the U.S. Treasury recognized
“impacted” and “disproportionately impacted” small businesses eligible to receive funding for this program.
A small business is “impacted” if it meets the City’s definition of small business (50 or fewer employees) and can demonstrate and provide evidence of a negative economic impact caused by the pandemic.
A small business is “disproportionately impacted” if it meets the definition of small business as defined by the City (50 or fewer employees), is located within a Disproportionately Impacted Area or Qualified Census Tract, and can provide evidence of a negative economic impact caused by the pandemic. Types of evidence may include:
In addition to providing evidence of negative economic impact caused by the pandemic, to be eligible for an award, a business must:
Businesses may use funds to mitigate financial hardship, such as declines in revenue resulting from periods of closure. Grants are for costs not yet incurred by the date the American Rescue Plan Act was passed (March 3, 2021). Expenses incurred between March 3, 2021 and October 31, 2024, are eligible for reimbursement.
Grants funds may be used for:
Applicant should contact the Economic and Community Development Agency prior to submitting an application for the following: