Pierce County Council Approves Funding To Pay Commercial Rent
PUYALLUP, WA — The Pierce County Council has approved an additional $7.75 million to help local businesses pay their rent or mortgages during the pandemic.
In August, the council used $2.5 million in CARES Act funding to establish the Commercial Rent and Mortgage Payment Assistance Program. But in the weeks since the program was created, the council says the response has been so great, and the need for support so dire, that they're massively expanding the program to help many more businesses.
“We have seen numerous businesses close for good due to the pandemic,” said Council Vice Chair Dave Morell. “The impact of these closures is multifold, and the Council is committed to doing what it can to provide assistance where it is needed.”
To fund the program, the council shifted money away from the Adaptation Grant Program, which the Pierce County Economic Development Department found was not meeting needs or supporting the community as effectively as the rent payment assistance program.
https://www.msn.com/en-us/money/smallbusiness/pierce-county-council-approves-funding-to-pay-commercial-rent/ar-BB196T20?ocid=hplocalnews