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1. How is the Coronavirus Relief Fund (CRF) being funded?

The U.S. Department of Treasury, as authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, established a $150 billion relief fund to aid states, local, and tribal governments with populations over 500,000 people in their efforts to respond to the nationwide public health emergency caused by the coronavirus pandemic and COVID-19 outbreak. Funding has been allocated from Treasury to the State of Minnesota, and, in turn, the City of Little Canada as pass-through funds. Based on eligibility, small businesses physically located within the City of Little Canada are eligible to apply for funding.

2. My small business does not have a physical location in the City of Little Canada, but the majority of the clients/customers Little Canada residents. Can we apply?

Businesses must have a physical location in the City of Little Canada. The City of Little Canada will use legal documents to verify the addresses of businesses that apply for this grant.

3. Are there limits on how the grant can be used?

The Small Business Relief Grant Program provides funding to assist small businesses facing financial hardship and/or business interruption due to the COVID-19 pandemic with financial assistance for necessary expenditures. Eligible expenses include:

• Commercial lease or mortgage payments incurred between March 1, 2020, and November 15, 2020 (no prepayments).
• Accounts payable (AP) if the AP is a COVID-19 related expense incurred between March 1, 2020, and November 15, 2020.
• Reopening costs or safety improvement costs expended since March 1, 2020 (i.e. outdoor seating, plexiglass, cleaning products, re-staffing costs, etc.).

4. Will this grant be considered taxable income?

Yes. Please see the IRS guidance. The City of Little Canada will be responsible for issuing a 1099 form for tax reporting purposes.

5. How will awardees be selected to receive funding?

Applications will be reviewed on a first-come, first considered/awarded basis. Awards will be made to applicants that submit a complete application and meet the minimum program
criteria. Please note that not all applicants will be funded.