Anchorage Assembly Passes $15 million in Relief, Includes Funds for Small Business

Date: December 09, 2020

Nearly $6.5 million available for restaurants, bars, and entertainment small businesses

On December 8, the Anchorage Assembly passed a measure to provide additional relief funding to businesses and residents in the municipality of Anchorage, including grants to small businesses impacted by the modified Hunker Down Order. 

The $15,407,650 relief package breaks down as follows: 

  • $7,400,000 for the Rental and Mortgage Assistance Program. This will allow the program to continue beyond December and into 2021. 
  • $6,407,650 for grants to small businesses impacted by the modified Hunker Down order, including restaurants, bars, and entertainment businesses. This $6,407,650 is in addition to the approximately $7,000,000 remaining in the small business program fund, which will be deployed in the coming days. After passage of this AR, funds left to deploy to small businesses would total $13,407,650. 
  • $1,000,000 for the municipal Voucher Program that provides individuals and families with vouchers for basic necessities such as groceries, medication, diapers, and gas. This will add to the existing $1,000,000 program, which we expect to be depleted this month.  
  • $600,000 for the United Way and Alaska Hospitality and Retailers Association Meals Program, which pays local restaurants to provide meals to families that are struggling to make ends meet. This funding will allow the existing program to continue beyond 2021.  

The funding for the additional economic relief redirects dollars previously appropriated by the Anchorage Assembly. The Anchorage Assembly previously set aside $12,000,000 to meet the Federal Emergency Management Agency (FEMA) local match requirement for disaster funds in case the State of Alaska did not pay the match. The State of Alaska has committed to pay this match, so these funds are no longer needed for that purpose. The bulk of the remaining funds come from funds that were appropriated for mental health crisis response, which will now be funded by the alcohol tax.  

The Anchorage Assembly previously allocated over $88,000,000 for economic stimulus, the majority which has been spent on rent and mortgage relief and grants to businesses and nonprofits. The remaining relief dollars from that allocation will become available in the coming weeks, including $7 million more for small businesses, $7 million to tourism related businesses, $3 million for utility relief, and continued payments to child care providers. For up to date information on new relief opportunities and public health measures, businesses can sign up for text alerts at http://muni.org/smbizalerts.  

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