Bill Tropp, from Tropp Printing at 181 Broadway is now eligible to apply

On Wednesday, September 1, 2010 the Lower Manhattan Development Corporation (LMDC) announced the expansion of the Small Firm Assistance Program. The program provides relief to small retail businesses that have suffered business disruptions affected by publicly-funded construction projects in Lower Manhattan. The initiative was originally due to expire this year will be extended by five years through December 31, 2015.

Other additions to the program were announced:

• $1 million has been added to the grant program, bringing the overall funding total to $6 million.
• The total allowance cap per grant was increased from $25,000 to $35,000.
• The program has expanded to include small retail businesses located on the second floor and above.

The program, which began in July 2007, applies to small businesses with fewer than 50 individuals, located below Canal Street, and work on a street where publicly funded construction has been underway for at least thirteen months. Research suggests that up to 130 additional businesses could be eligible under the expanded program. Through August 2010 the LMDC has awarded 250 grants to 150 small businesses totaling $3.1 million. For more information on the program or to apply, visit the LMDC website.

The LMDC worked closely with the New York City Economic Development Corporation, New York City Economic Development Corporation, Assembly Speaker Sheldon Silver and State Senator Daniel Squadron, Community Board 1 and the Alliance for Downtown New York in developing the program.

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