Specifications include, but are not limited to: 1. Identify eligible small businesses that were negatively impacted by the pandemic or disproportionately impacted in Johnson County, Iowa. The U.S Treasury has outlined these criteria that must be followed: a. “Small Business” definition: i. Have no more than 500 employees, or if applicable, the size standard in number of employees established by the Administrator of the Small Business Administration for the industry in which the business concern or organization operates, and ii. Are a small business concern as defined in section 3 of the Small Business Act (which includes, among other requirements, that the business is independently owned and operated and is not dominant in its field of operation) b. “Impacted Small Business” considerations: i. Decreased revenue or gross receipts ii. Financial insecurity iii. Increased costs iv. Capacity to weather financial hardship v. Challenges covering payroll, rent or mortgage, and other operating costs c. “Disproportionately Impacted Small Business” considerations: i. Small business operating Qualified Census Tracts ii. Small businesses operated by Tribal governments or on Tribal lands iii. Small businesses operating in the U.S. territories 2. Create a financial program to address economic disparities for impacted or disproportionately impacted small businesses (the distinction between those categories is listed above). This program can include: a. For Impacted Small Businesses: i. Grants to mitigate financial hardship, such as by supporting payroll and benefits, costs to retain employees, and mortgage, rent, utility, and other operating costs ii. Technical assistance, counseling, or other services to support business planning b. For Disproportionately Impacted Small Businesses: i. Rehabilitation of commercial properties, storefront improvements & façade, improvements ii. Technical assistance, business incubators & grants for start-up or expansion costs for small businesses iii. Support for microbusinesses, including financial, childcare, and transportation costs 3. Create a project work plan with SMART goals to reach planned targets by June 30, 2026. 4. Present periodic findings and work to the Johnson County Board of Supervisors and staff for final approval of allocated funding. 5. Administer the financial program following ARPA guidelines, including 2 CFR 200, by June 30, 2026.
