Ensure grant funding is available through the Small Business Stabilization Restore Program for small businesses and nonprofit organizations impacted by the January 2024 winter storm

WHEREAS, the Portland metropolitan area experienced a severe snow, ice and wind event beginning January 12 that lasted until January 17th, covered by the City’s Emergency Declaration ED-2024-01; and WHEREAS, severe cold weather, snowfall and ice caused widespread damage and business interruptions to the small business community; and WHEREAS, Over 600 businesses located in the City of Portland self-reported direct or indirect impacts to their operations from the January Ice Storm Event; and WHEREAS, Prosper Portland and the Portland Bureau of Emergency Management are supporting a unified City of Portland Small Business Recovery Center to assist small businesses with recovery resources; and WHEREAS, Prosper Portland intends to offer direct assistance grants for storm recovery to small businesses by expanding the Small Business Stabilization Restore Program to make winter storm related expenses eligible for reimbursement during Restore Grant Cycle 5 and extending the deadline for application to February 29, 2024; and WHEREAS, Prosper Portland currently has made funding available to small businesses under Restore Grants; and WHEREAS, in order to make support available under an expansion of the Restore Grants, the City will need to reclaim a portion of Prosper Portland’s ARPA allocation, account for this amount as revenue loss under ARPA rules and then allocate an equivalent amount of unrestricted general fund to Prosper Portland, with restrictions appropriate for public accountability to be drafted by the Office of Management and Finance Grants Management Division. NOW, THEREFORE, BE IT RESOLVED, the Council supports this strategy to provide additional funding for the Restore grants for small business economic recovery for businesses impacted by the January 2024 winter storm.