After voting to keep the business recovery fund program in-house earlier this month, the Archuleta County Board of County Commissioners (BoCC) heard from Finance Director Chad Eaton during a May 27 work session, with Eaton providing more insight into what the application will entail for businesses applying for grants.
Eaton explained that the program was “created to help businesses during the construction.”
Eaton indicated that grants will be available in amounts ranging from $500 to $5,000 with requirements being that the business is located within Pagosa Springs’ main street district with 20 or fewer full-time employees, have a physical business address and presence within the district, and have been in business for at least one year prior to submitting an application.
He also noted that grant awards are subject to final approval of the BoCC and available funds.
“My main focus on here is to get their sales tax information,” Eaton said, explaining that will “really show how the business has been doing,” which will show an “actual decline in business.”
Eaton also mentioned the question of, “What steps has your business taken to address the reconstruction project?”
He explained that it will show what businesses are doing to be “proactive during this time.”
Eaton also noted that the application will be a Google Form, which will allow businesses to attach additional documents.
Another question included in the application that Eaton brought up is, “How does your business intend to sustain itself after receiving a onetime funding from this grant?”
Eaton explained that he did not want to “make this really hard” or get into any personal finances that they need, “because my main focus is with the sales tax information” from the prior year to this year.
Commissioner John Ranson asked if businesses would be providing their sales tax information, to which Eaton explained businesses will provide it and he will check it.
Commissioner Warren Brown asked if the application would be “set to go” June 1, with Eaton and County Manager Jack Harper confirming it would be ready by then.
Commissioner Veronica Medina asked how the application compares to that of the Main Street Advisory Board’s application for low-cost loans from the Region 9 Economic Development District of Southwest Colorado.
Eaton explained that the loan application is “credit-based” and that the county is not offering credit on this portion and that it is “need-based.”
“That was the one big difference of what theirs to ours is, they were really going after their financial information to be credit worthy,” he said.
Ranson asked if Eaton has had any interest in the application up to this point, with Eaton explaining he has and businesses are waiting for it to be put up on the county’s website.
clayton@pagosasun.com
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