At the July board meeting of the Bastrop Economic Development Corporation (BEDC), the Board of Directors approved a budget amendment in the amount of $320,000 for a third round of relief grants to help local businesses during the COVID-19 pandemic.
Funding for this round of grants will be taken from the BEDC’s reserve fund. The first two rounds of grants were financed by reallocating funds in the current year’s budget.
Only businesses that did not apply during the first two rounds of grants need to complete the application by following this link: www.bastropedc. org/covid-19-relief-grants.
Businesses that applied during the April or May funding rounds are eligible. Please contact the BEDC’s CEO Cameron Cox directly Cameron@ BastropEDC.org, and include your name and the name of your business.
In April, the BEDC first authorized a relief grant program to distribute $185,000 to 62 Bastrop businesses struggling through the economic downturn caused by the coronavirus pandemic. Then, in May, the BEDC provided 104 businesses with cash assistance totaling $215,000 in its second round of funding.
The awards require each business to sign a performance agreement in which recipients agree to use the money to retain jobs, create new jobs lost during the pandemic or for any capital improvements. The use of these funds expire one year from signing the performance agreement, at which point the businesses are required to show the BEDC tax receipts and employment reports for 2020.