The City of Springfield will begin accepting applications Tuesday for its Business Assistance Cannabis Grant program, made possible by a portion of the local cannabis sales tax revenue.
This grant is available for new and existing businesses with at least 51% minority ownership.
The goal of the program is to promote business retention and expansion of minority-owned businesses.
The business must be located within the designated area: Carpenter Street on the north, Ash Street on the south, Dirksen Parkway on the east, and 10th Street rail corridor on the west.
This grant program will provide up to $100,000 of assistance to minority-owned businesses with a 10% match requirement. Money awarded for the project must be used for specific items including equipment and inventory purchases, land acquisition, new construction or renovation and labor costs with prevailing wage.
Taxes on the business must be current and up to date. The business can't have any outstanding debt to the city.
If approved for the grant program, every person listed on the deed of the business must sign off on the agreement.
Home-based businesses and nonprofit organizations (with some exceptions) are not eligible for assistance under the grant program
The online application will open at 8:30 a.m. Tuesday at www.springfield.il.us/cannabis.The application portal will close Feb. 28.
Questions about the program may be directed to the city’s Office of Planning & Economic Development at 217-789-2377.
Contact Steven Spearie: 217-622-1788, firstname.lastname@example.org, twitter.com/@StevenSpearie.
This article originally appeared on State Journal-Register: Springfield Business Assistance Cannabis Grant applications open