Create Support Fund for Construction-Affected Small Businesses
In committee as of Jun 15, 2026Under review by an assigned committee.
✦ Plain-Language Summary
This bill would create a city program to help small businesses hurt by long-term construction projects on city streets. Businesses could apply for low-interest loans up to $50,000 or grants up to $15,000 per year if construction disrupts traffic to their store for 30 days or more. The city would review applications within 30 days and send money within 14 days of approval.
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Details
- Introduced
- Mar 26, 2026
- Body
- Committee on Small Business
- Type
- Introduction
- Status
- Laid Over in Committee
Sponsors (8)
Official Description
This bill would require the Department of Small Business Services (SBS) to establish a program to provide loans, grants, services, materials, or some combination, to support small businesses affected by city construction projects. To qualify, businesses must demonstrate (i) a reasonable expectation of costs or losses resulting from a city construction project that is expected to disrupt traffic for 30 days or more; (ii) a plan to mitigate or offset such costs and losses; and (iii) any other application requirements stipulated by SBS. Loans under this program would be limited to $50,000 per storefront per year and would have an interest rate of no more than 3 percent. Grants or reimbursements would be limited to $15,000 per storefront per year. SBS would create an application process and timeline of 30 days or less to review and issue a final determination on applications. Awards under this program must be disbursed within 14 days of the business meeting all applicable requirements.