The Village of Mount Prospect Mayor, Village Board of Trustees and Economic Development Commission recognize the financial burden on the Village’s restaurant community, and therefore, the Village has established the Mount Prospect COVID-19 Restaurant Assistance Grant Program, which is a grant program to provide funds to Mount Prospect restaurants that have suffered economic loss during the COVID-19 Pandemic (“Grant Program”). The Grant Program will distribute a grant to eligible local businesses to provide cash for short-term financial operational needs such as payroll, payment to suppliers, payment to service providers, payment of utilities, or rent. The Grant may not be used for capital expenditures.
The Village will be dispersing grants of up to $10,000 to qualifying local restaurants, with a fund total of at least $250,000. To be considered an eligible business to receive a Grant, businesses must meet the following requirements:
- Have and maintain a current and valid Village of Mount Prospect Business License;
- Not have permanently ceased operations as of the date the funds are to be dispensed (businesses that have ceased operations per the Governor’s “Stay at Home” Order and reopened once the Governor’s “Stay at Home” Order was lifted or otherwise allowed will not be considered to have permanently ceased operations);
- Generate municipal sales tax as part of its operations and sales;
- Generate food and beverage tax as part of its operations and sales;
- Have indoor seating for dining;
- Not be part of a chain consisting of more than 4 units;
- Not be part of a franchise system;
- Not be a private club and must be open to the general public;
- Not be a home occupation; and
- Show evidence that they have suffered a decrease in municipal sales tax eligible sales from March 21, 2020 to the date of the Application when compared to the same time frame in 2019, to be verified by staff. Restaurants opened more recently will need to show loss of sales from date of opening; and
- Be in compliance with Restore Illinois Resurgence Mitigations.
Grant Program’s Terms and Conditions.
Applications must be submitted online.
A link will be published at 9:00 a.m. Wednesday, November 18th at WWW.MOUNTPROSPECT.ORG/RESTAURANTGRANT
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