At next week’s meeting, the Council will discuss how the City may assist local businesses affected by COVID-19 pandemic.
At the April 7, 2020, City Council Special Session, the City Council discussed options for providing emergency assistance to Meals-On-Wheels and the College Park Community Food Bank and other potential assistance to local businesses. At that meeting, Council authorized emergency funding in the amount of $12,000 each for Meals-On-Wheels and the College Park Food Bank and directed staff to issue the funds immediately.
In addition, the Council expressed interest in further exploring several economic assistance measures designed to assist local businesses during this difficult time. In particular, the Council asked staff to conduct additional research concerning:
1) extending the payment period for City business renewal licenses; and
2) delaying payment of City business personal property tax for businesses with fewer than 50 employees or forgiving a certain amount of tax due.
In addition to providing information on these two items, staff offers the following business economic assistance programs for further discussion and consideration. This is not an exhaustive list. Staff continues to explore other programs and options, including those being implemented in other communities.
(a) Extend the payment period for City business renewal licenses.
(b) Delaying payment of City business personal property tax for businesses with fewer than 50 employees or forgiving a certain amount of tax due.
(c) Identify existing Federal, State, and County business incentive programs where City assistance could be beneficial by filling a gap.
(d) Business Assistance and Façade improvement Programs can be modified.
( e )A local Business Certificate program could be created.