The premise of this memorandum is to share the various types of economic recovery initiatives that the Small and Medium Business Committee was able to compile for your consideration and feedback. As you are aware, on May 20, 2020, the Riviera Beach Community Redevelopment Agency created the Small Business Forgivable Loan Fund and began accepting applications on Friday, May 22, 2020. 

Due to the increased demand for businesses that were directly and significantly impacted by COVID-19 and business closures resulting from the state and county orders, the Riviera Beach CRA increased the Small Business Forgivable Loan Fund to $165,000. Further, since a considerable number of businesses that submitted for the CRA’s Forgivable Loan Program and were located outside of the CRA boundaries, the members of the Small and Medium Business Committee along with City Manager Jonathan Evans met to determine if any relief programs could be offered to businesses outside of the CRA boundaries.

As City Manager Evans indicated at the June 3, 2020 Regular City Council Meeting, his office worked diligently in locating funding for the City to implement a business relief program for business located in the corporate limits.  Further, Mr. Evans and the Small and Medium Business Committee determined that the City will benefit more by partnering with qualified external firms or individuals as determined by City Administration to review the applications received and to determine eligibility.