Mount Prospect using federal funds to help small businesses

 
Updated 4/22/2021 3:44 PM

Mount Prospect will be doling out $253,000 in federal funds to assist small businesses affected by the pandemic.

Community Development Director Bill Cooney told the village board Tuesday this is the second round of Community Development Grant Coronavirus funds disseminated by the village. About $154,000 was spent last year in areas such as rental assistance and COVID-related social services.

 

The second round will be used similarly the $600,000 grant program for restaurants last year. The money, in the form of $10,000 grants, will be directed to "nonessential businesses" that were required to close during the majority of the pandemic, Cooney said.

That includes entertainment venues, bars and restaurants, personal care services such as salons and barber shops, health clubs and gyms, and other nonessential retail businesses.

Because the money comes from the U.S. Department of Housing and Urban Development, which requires significant documentation, Cooney said the village has hired the Des Plaines-based Center of Concern to operate this program for $15,000.

The village, he said, would be "rolling those dollars out on the street as soon as possible."

Cooney also held out the possibility that additional funds could be made available from the $6.5 million the village will be receiving from the federal government under the American Rescue Plan.

"I think we should give priority to people who didn't participate the first time," Trustee Richard Rogers said.

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