At the virtual regular meeting last night, the City Council approved a payroll protection grant program to provide assistance to small business owners under Phase 3 of the City’s CARES Act program. Payroll protection grants are available to reimburse for-profit businesses that have been substantially impacted by COVID-19 and have between one (1) and 50 employees.
“The Council approved this funding because Missouri City understands that its small businesses have borne the brunt of the economic damage from this pandemic,” said Odis Jones, City Manager/CEO. “From the grants for leases and mortgages to the monies for payroll reimbursement, we are doing everything we can to keep these businesses going.”
Grants will be up to $20,000 each. The City has earmarked $1.7 million for the program, which comes from the additional $2 million in CARES Act funding received from Fort Bend County last month. The payroll protection program covers W-2 employees only, not 1099 workers. The monies would be paid out for the months of November and December. The County previously had its own payroll protection program, but it was discontinued.
The program opened on Nov. 17, 2020 for small businesses; to apply visit https://www.missouricitytx.gov/FormCenter/COVID19-25/Small-Business-Payroll-Reimbursement-Ass-111.
Eligibility-Grant Amounts are based on 2019 taxes:
- Annual Sales up to $100,000 – Grant Award up to $5,000
- Annual Sales from $100,001 to $2,000,000 – Grant Award up to $15,000
- Annual Sales from $2,000,001 to $5,000,000 – Grant Award up to $20,000