Richmond mayor proposes $500K for businesses affected by protests

Businesses can receive up to $10K in one-time funding

Published August 10, 2020 by Sydney Lake

Richmond Mayor Levar M. Stoney is proposing that City Council adopt a $500,000 Business Recovery Grant Program to compensate for damages to businesses from recent protests.

Through the program, eligible businesses can be awarded a one-time grant of up to $10,000 to cover costs from damage that happened as the result of recent demonstrations within city limits. Downtown Richmond stores and galleries were damaged and looted in early June when racial justice protests erupted nationwide as a result of the police killing of George Floyd in Minneapolis. Other business owners have reported damage in recent weeks, too. 

“Though many protests have been peaceful, sporadic nights of severe property damage have hurt our small business community,” Stoney said in a statement. “These grants will help those establishments get back on their feet and send a message to the owners and employees of those businesses that they’re heard, they’re valued and we’re in this together.”

Eligible local businesses, nonprofit organizations and commercial property owners may use the funds for services including window repair and graffiti removal. The one-time grant program will be funded through the city’s Commercial Area Revitalization Effort Program, which will not be impacted by the Business Recovery Grant Program, according to the Stoney administration.

If funding is approved during Monday’s City Council meeting, then program guidelines will be posted to the city’s website. Applications can be submitted starting Aug. 13.

Subscribe to Virginia Business.

Get our daily e-newsletter.