At the May 12 Lafayette Urban Renewal Authority (“LURA”) meeting, LURA approved a microgrant program to provide direct business recovery assistance to small businesses within the Old Town Urban Renewal Area that have zero (0) to fifty (50) employees, and that did not receive a grant award through the City of Lafayette’s COVID-19 Small Business Emergency Relief Grant Program. Businesses that were ineligible for the City’s grant program because they have less than two (2) employees are eligible to apply for this LURA microgrant program.
The purpose of this program is to provide some immediate financial support for small businesses experiencing financial hardship directly related to the COVID-19 public health emergency. Grants are to be used to pay legitimate and essential business operating expenses, including: rent/mortgage for the business’s physical location within the LURA Old Town Urban Renewal Area; utilities; insurance; or other adaptations to address re-opening.
This microgrant program is only available to businesses located within the Lafayette Old Town Urban Renewal Area. The revenues used to fund the program are legally restricted to use within the Area.
The microgrants are intended to provide short-term financial relief while businesses pursue other relief options. Grant funding should be one component of a business’s larger strategy for recovery from the impact of the COVID-19 public health emergency, and is not intended to be a business’s sole source of aid.
Complete applications meeting eligibility criteria will be reviewed by a committee in the order received.
Applications can start being submitted at 8 am on Friday, May 22 with first review of applications received at noon on Wednesday, May 27.
Grant awards will be determined at the discretion of the Lafayette Urban Renewal Authority Small Business Microgrant Program committee based on the eligibility criteria and the responses provided in this Application, subject to availability of funds. Funds are limited and submitting an application is not a guarantee of a grant award. LURA may terminate the program at any time, for any reason.
To review program elidibility and requirements, and to apply, visit: cityoflafayette.com/LURAgrants