DeSoto Introduces Assistance Programs For Residents & Businesses Hardest Hit By Pandemic
As part of an ongoing effort to provide support to residents and businesses hardest hit during the Coronavirus (COVID-19) Pandemic, the City of DeSoto has rolled out two new programs on Monday, August 24, 2020, designed to provide both sectors with a combined $2.25 million in Coronavirus relief funds via the CARES Act.
The DeSoto Residential Assistance Grant Program will provide more than $1.5 million in grants to residents who qualify based on income and allowable expenses who are able to document specific financial impact due to COVID-19. Participating residents will be able to qualify for a capped total of up to $8,000 in combined expenses over a period of 3 months including up to $6,000 for living expenses such as rent, mortgage, and utilities and up to $3,600 for childcare costs for those looking for or returning to work. Grant funds will be provided directly to the landlord, mortgage company, utility provider, and/or child care provider. For more detailed information visit the program page at https://ndconline.org/ntxsmallbiz/city-of-desoto-residential-assistance-program/
DeSoto Business Assistance Grant Program
The DeSoto Business Assistance Grant Program offers qualifying businesses impacted by the COVID-19 Pandemic approximately $700,000 in assistance, covering up to 3 months of expenses with a maximum of $20,000 per business. To qualify, businesses will need to be located in DeSoto, employ less than 100 workers, have less than $10 million in annual revenues and be able to document a 25% reduction in sales or revenues since March 15, 2020, due to the Coronavirus Pandemic or certify that their business was subject to at least a 2‐week mandatory closure.
DeSoto has also added a grant provision allowing qualifying home businesses to receive up to $2,500 in grant funding. Grant funds will be provided directly to the landlord, mortgage company, or utility provider unless it is a home-based business. To learn more about the DeSoto Business Assistance Program visit the program page at https://ndconline.org/ntxsmallbiz/city-of-desoto/city-of-desoto-business-assistance-program/
The application period runs from Monday, August 24, 2020, though the end of the business day on Monday, September 14th. The initial application will be made via an online survey to determine eligibility. Eligible applicants will be selected for funding by a random lottery process.
In addition to providing program information online, the City of DeSoto will host two informational webinars. The DeSoto Residential Assistance Program/Grant Webinar will be held on Thursday, August 27, 2020, at 6 PM. And the DeSoto Business Assistance Program/Grant Webinar will be held on Monday, August 31, 2020, at 6 PM. Links for both webinars will be made available at a later date.
User-Friendly Grant Programs
“This is one of the most user-friendly grants programs that I have seen and it all starts out with a simple online survey that doesn’t require any advance preparation or paperwork,” noted DeSoto City Manager Brandon Wright. “Not only are there fewer Federal funding restrictions than we saw with our earlier grants but our partner in this process, the non-profit organization NDC, has extensive experience with administering these types of grants and their expertise should simplify and speed along the process.”
The National Development Council, NDC, has worked for over 50 years to increase the flow of capital for investment in low-income communities. NDC is recognized for the successful implementation of these types of grant programs throughout the United States. They are currently administering this program for Dallas County, and the nearby Cities of Allen, Dallas, Frisco, Irving, McKinney, and Richardson.
DeSoto residents and businesses seeking more information about these two new grant programs can call the City of Desoto Residential and Business Grant Program Line at (972) 220-7313 or email us at [email protected] Assistance will be provided during the application periods on Monday – Friday, from 8:00 a.m. – 5:00 p.m. You can also visit the NDC program website at https://ndconline.org/ntxsmallbiz/city-of-desoto/ or email them with application questions at [email protected]