COVID-19 Economic Recovery Efforts and Resources
Contributions to the “Pikes Peak Enterprise Zone (EZ) Business Relief Fund” will provide grant assistance of up to $7,500 to for-profit small businesses in the Pikes Peak EZ impacted by COVID-19. Donors will also receive an Enterprise Zone state income tax credit equal to 25% of their contribution. The Pikes Peak EZ Business Relief Fund will aid businesses located in the Enterprise Zone with any of the following types of assistance: rent or mortgage assistance, utility payments, employee payroll, accounts payable and other bills, and for payment of fixed debts
The application window for the Pikes Peak EZ Business Relief Fund is now closed. Selected grant recipients received an award notification in May 2020; grant funds were disbursed to selected grant recipients in June 2020.
For any additional questions, please contact the Pikes Peak EZ Administrator, Sara Lobato, at firstname.lastname@example.org.
The CARES Act established the Coronavirus Relief Fund and appropriated funding to the fund for State and Local Government Relief. El Paso County received a direct allocation of federal funds from the CARES Act Relief Fund. El Paso County recognizes that its economic development partner organizations have also realized increased expenditures due to COVID-19 and has chosen to open a competitive application process for 501(c)(6) Chambers of Commerce and Business League organizations, or any non-lobbying 501(c)(4) with an economic development driven mission, as defined by IRS Publication 557, to assist them with their response and expenses related to COVID-19.
Under the CARES Act, the federal funds may only be used to cover costs that are necessary economic recovery expenditures incurred due to the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19); and were incurred no earlier than March 1, 2020.
The requirement that expenditures be incurred “due to” the public health emergency means that expenditures must be used for actions taken by an organization to respond to the public health emergency and any necessary economic recovery efforts the organization has implemented.
The application window for the Grant Assistance for 501(c)(6) Chambers of Commerce and Business League Organizations, or any Non-lobbying 501(c)(4) with an Economic Development Driven Mission is has closed. The following selected grant recipients received awards to assist with: fixed debts, employee payroll, marketing and education, and innovative programming in response to COVID-19.
El Paso County plans to release a competitive grant application process, in the August – September 2020 timeframe, for small businesses in El Paso County to assist them with their business-related costs incurred due to the COVID-19 economic disruption such as: Rent/Mortgage/Utility Payments; Employee Payroll; Accounts Payable and Other Fixed Debt Costs; and Personal Protection Equipment.