AURORA, IL – More than 100 Aurora companies are expected to receive a much-needed boost from the city of Aurora after city councils approve grants of up to $ 15,000 to offset some of their pandemic-related losses.
The fund will distribute $ 683,000 in its first round of grants, which each company is expected to receive between $ 1,500 and $ 15,000.
City officials checked 25 more applications last week, but there would be money left in the $ 1.2 million fund even if all of the remaining applications were approved.
City officials expect about $ 1 million in relief from the food and beverage tax break, but its value is likely to be closer to $ 600,000, said Martin Lyons, Aurora’s chief financial officer.
The money that remains in the city’s coronavirus relief funds could be used to help businesses that haven’t received funding from other sources or a rental aid program to help residents and businesses, Lyons said.