Lexington’s City Council has voted to set aside $2.5 million to help small businesses come through the coronavirus pandemic. It represents the second time the city has funded an Economic Recovery Program.
Council Member James Brown suggested giving priority to those businesses which didn’t receive grants during the first go round. “I would ask them to put more emphasis on the folks that didn’t get funding the last time. I’d be somewhat disappointed to hear that folks that didn’t get money last time or the second time and we’ve funded other agencies more than once,” said Brown.
The goal is to see at least 50% of the money go to Fayette County minority and women-owned businesses with less than 50 employees. Tyrone Tyra with Commerce Lexington said it’s important to give proper balance to allocations. “Of course we’re going to give those, we just agreed to give those folks a look that missed out the last time. But, you want to stay as clear away from discrimination as you can, so you have to try to take people as they come in the door,” explained Tyra.
The original proposal included a total of $5 million. It was amended to allow for a second round of $2.5 million that could be allocated if the first round is exhausted and the need persists.
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