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LEWISTON – The city is taking steps to support the sustainability of Lewiston’s travel, tourism and hospitality industry that was hugely impacted by COVID19 by offering grants for individuals and businesses.
The city council agreed on Sept. 7 to use $500,000 of American Rescue Plan Act money to establish the American Rescue Plan Act Travel, Tourism, and Hospitality Industry Grant Program.
The two-year grant program has an annual individual grant capped at $50,000 and $100,000 over the two-year period. Any unobligated money will return to ARPA infrastructure projects at program close in June 2024, namely a CSO storage tank at the Lewiston Auburn Water Pollution Control Authority and a redundant water transmission main.
Applicants who demonstrate that the COVID impact produced a 75% loss in business revenue from the most recent non-COVID fiscal year may get a grant of up to $50,000. Applicants must have applied for and received both rounds of PPP loans and any other stimulus relief funding available to them or furnish an explanation on the intent to apply for funding and why such funding was not available. Financial statements and a detailed description of debt terms, forbearance language, and amortization periods are also part of the grant award criteria.
Those interested in applying may contact Brenton Corriveau at bcorriveau@lewistonmaine.gov or 207-513-3000, ext. 3215.
The city will use its regular due diligence, underwriting procedures and Loan Qualification Committee approval process, similar to that of its commercial loan program with the grant program.
