Local Business Grant Program
While the federal government has provided a number of stimulus programs to support economic sustainability, small businesses have been hit particularly hard by mandatory closures and safety measures.
The City's Local Business Grant Program is intended to demonstrate support for the Lake Forest business community. A particular emphasis is placed on the small businesses who may find the extended closures and restrictions pose an even greater challenge to recovery and sustainability. While it does not provide a significant source of funding to these businesses, it serves as a clear message that their presence in the community is valued and appreciated.
It is important to remember that sales tax generated by local businesses help to reduce the property tax burden and ensure that visitors to our City pay a share of the cost of services provided.
The total cost of the proposed program will be funded from the operating budget surplus in the General Fund for the Fiscal Year ending on April 30, 2020. Grant payments will be based on sales generated by participating businesses for March 2020 through December 2020, encouraging these businesses to remain in Lake Forest.
Please remember to shop and eat local!