Restaurants Revitalization Fund to Provide $28.6 Billion in Relief: Putting Lisle First
Trustee Candidate Trussell says Lisle restaurant and bar owners need be aware of the RRF Eligibility for Restaurant Operators and Franchisees. Trussell, currently serving on the Lisle Planning and Zoning Commission, said " Our hospitality community was hit hard by the COVID lock downs and even harder by the ongoing "return to normal" policies implemented by our State that did nothing more than prolong the pain and expense for our small business community."
Trustee Candidate Trussell has been a leading voice in navigating the COVID crises for multiple hospitality business leaders throughout the Chicago land area. He said this grant program will be administered by the U.S. Small Business Administration (SBA). An “eligible entity” which definition includes restaurants, food trucks, bars and brewpubs, among other establishments will be eligible to receive a grant of up to $10 million. The amount of the grant must not exceed the “pandemic-related” revenue loss of the applicant, which generally means the applicant’s 2019 gross receipts minus its 2020 gross receipts. Grants will be based on a modified formula for applicants that were not in operation for all of 2019 or who opened for business after January 1, 2020. Grant funds may be used to cover payroll costs, rent payments, utilities, maintenance expenses, supplies, F&B expenses within the normal scope of business practice, covered supplier costs, operational expenses, paid sick leave, outdoor seating construction, personal protective equipment (PPE), cleaning materials and other expenses the SBA deems essential.
Trussell stated " Our hospitality community did everything right, followed rules, spent money on outdoor seating, provided PPE, and stayed open when they could to provide us some sense of normalcy during the lock down. Regardless on how you feel about the stimulus package, this portion of the bill is of value and Lisle hospitality business owners should look into the program."
For more information go to:
The National Restaurant Association: https://restaurantsact.com/wp-content/uploads/2021/03/UnderstandingRRF.pdf