Waynesboro City Council has introduced an ordinance to refund and reopen the Renaissance Fund application process.
The Renaissance Fund grant program provides grants up to $25,000 for businesses that have suffered a loss due to business closures related to COVID-19.
U.S. Treasury guidance allows states to use Coronavirus Relief Fund dollars for expenditures “related to the provision of grants to small businesses to reimburse the costs of business interruption caused by required closure.” The Commonwealth of Virginia has elected to disperse a portion of its allocation to local governments.
The Waynesboro City Council has designated an additional $300,000 of the city’s allocation to help preserve small business in Waynesboro by providing grants to eligible businesses with the Renaissance Fund grant program.
These funds are in addition to the first Renaissance Fund and the nonprofit Sustainability Fund programs for a total of $600,000 available in the three grant programs.
Grants are competitive and are open to Waynesboro businesses that suffered a loss due to COVID-19. Grant funds may be used for a variety of reasons related to costs incurred by the business while it was closed or partially closed and/or costs related to reopening.
The program is slightly different than the initial Renaissance Fund so review the complete list of eligibility factors, allowable uses, and application details at www.waynesborobusiness.com/recovery.
Applications will be available on Aug. 31, and are due no later than 9 a.m. on Sept. 21. Grantees will be notified by noon on September 30, 2020 with disbursements beginning as soon as practical.
The Waynesboro Economic Development Authority will be administering the program and reviewing applications.
In addition, the nonprofit Sustainability Fund grant program remains open with applications due Aug. 31 at 9 a.m.
The complete list of organization eligibility factors, allowable uses, and application details can be found at www.waynesborobusiness.com/recovery.
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Chris Graham
