A $200,000 federal grant could help create from five to 10 new businesses in Batavia, the City Council was told Monday night.
The "micro-enterprise" grant program is designed to help fund businesses with fewer than five employees either through a start-up or growth phase.
The minimum federal requirement for the program is that five business owners receive benefits and five new jobs are created.
Recipients would be required to attend classes at GCC's Best Center covering the fundamentals of owning and operating a business, including planning, legal issues, accounting and financing.
The program would be supervised by the Batavia Development Corp. with the assistance of a grant administrator.
In total, $150,000 would be available for grants to small business owners, with $31,300 for program delivery, $10,000 for grant administration, and $8,700 for classroom instruction.
The money given out would be in the form of grants, not loans.
City Manager Jason Molino told council members that it's his understanding the federal government would require some sort of claw back for businesses that fail or move out of the city within the first three years after receiving the grant.
The City Council will vote on a resolution to accept the federal money at its March 9 meeting.
These days to create 5 new
These days to create 5 new jobs..Would almost need 1/2 million yearly in sales or more? Depending on the business.
Is that five new job created
Is that five new job created out of all of the recipients or five jobs each? Do these have to be "new" businesses. I see that the first paragraph says that but I'm wondering if this would include an existing business that has plans to move or expand. What other requirements are there for recipients, specifically, are there income restrictions? I know that you probably don't have all of these answers Howard but it would be nice if someone from Council could weigh in.