ST. LOUIS – You Paid For It talked to the head of the Board of Aldermen Lewis Reed about his proposal to add a million dollars to help small businesses get through the coronavirus crisis.
The Krewson administration unveiled how it has spent Federal CARES Act funds at Tuesday’s meeting of the Board of Aldermen COVID-19 Committee.
The city got $63 million in federal funds. So far, it’s spent $48 million. Whatever is left by the end of December has to be returned to the federal government.
St. Louis has spent some $5.4 million to help the homeless and $8.1 million for PPE, test kits, and supplies.
It’s also shelled out some $12.8 million to help families with rent and mortgage assistance and other measures to help people stay in their homes.
St. Louis set aside $4 million for small businesses but it’s not enough.
Approximately 1,100 applied for the $5,000 grants but there was only money enough for 800.
Board President Lewis Reed wants to add another million to help the remaining 300 small businesses cope with the crisis.