State & Local Government Policy, Business and Technology

D.C. launches $100 million grant program for hard-hit businesses

The Washington Post: The D.C. government has launched a new program that will allocate $100 million in grant funding to local businesses, a fresh injection of cash officials hope will help carry the city’s hardest-hit industries through the coronavirus pandemic.

The Business Support Grants Emergency Amendment Act of 2020, passed by the D.C. Council in July, authorized the city to draw as much as $100 million of Cares Act funding to support local businesses. The new program, “the Bridge Fund,” uses the final $20 million from the city’s federal Cares Act funding and $80 million from a local contingency reserve. The fund targets restaurants, hotels and entertainment and retail businesses, which will be allowed to start applying for grants in coming weeks.

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