Updates re GO Biz and BCC Grants

Date Posted: April 21st, 2020 @ 2:49 PM
Last Updated: April 21st, 2020 @ 3:05 PM

1. Go-Biz Grant Award

Read the GO Biz Press Release for full details.

a. In terms of next steps, over the next month our office will be gathering public input on how best to use the Go-Biz funds:

i. On Thursday, May 7th the Cannabis Regulatory Commission (CRC) will discuss this topic during their first post Covid-19 meeting, which will be held via Zoom. You will receive an email inviting you to participate in the meeting.

ii. Our office also anticipates emailing equity applicants a survey to gather further input on how best to use Go-Biz funds.

b. After gathering this public input, our office will present a Resolution to the City Council to accept and appropriate the Go-Biz funds.

2. Update re BCC Grant and Loan Modification Programs

a. Over the last two months, our office has been working on developing a grant program for operators that will be funded via the $1.65 million Bureau of Cannabis Control (BCC) grant that the City recently received. Our goal is to launch this program in the next two weeks.

b. Our office has also been working with Elevate Impact and the City Attorney's Office on two additional projects: a post-loan/grant technical assistance program and a loan modification program for borrowers who have fallen behind on monthly payments. Our goal is to launch these programs in the next two weeks as well.