LOUISVILLE, Ky. — The city of Louisville has proposed using $42.4 million in federal funding to help small businesses and prevent evictions. The money is from the federal Coronavirus Aid, Relief and Economic Security (CARES) Act.
Through the proposed plan, money would go toward helping more than 6,000 families behind on their rent. It would also create a new small business grant program that could help as many as 400 small businesses.
“The COVID-19 pandemic has affected every part of our lives, from our homes to our workplaces,” Louisville Mayor Greg Fischer said in a statement. “That’s why I propose we use part of the federal CARES funding to mitigate some of the worst impacts of the pandemic – the increased threat of evictions and economic uncertainty among our small businesses.”
Officials say the city has received $133.8 million in CARES Act funds to date and federal guidelines say that money must be spent by Dec. 30.
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