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LCG still awaiting HUD approval for grant to small businesses

LCG
Posted at 4:06 PM, Jun 09, 2020
and last updated 2020-06-09 17:06:37-04

LAFAYETTE, La. — The Lafayette Consolidated Government is still waiting for approval from the U.S. Department of Housing and Urban Development for its plan to reallocate $850,000 in Community Development Block Grant for Coronavirus for small businesses.

In May, the Lafayette City and Parish councils approved an introductory proposal from Mayor-President Josh Guillory to reallocate money from a HUD grant to small businesses instead of housing assistance.

Although the plan has been approved by the councils, it still requires final approval from HUD, which LCG said it expected to be available by June 1.

According to LCG Chief Communications Officer Jamie Angelle, LCG is still waiting on HUD approval before they can start the application process for businesses.

"I’m sure HUD is processing applications from municipalities throughout the country, so it’s not a surprise that it’s taking a little longer," said Angelle. "We are hopeful that we will have an update in the next week or two and there will be an online portal for businesses to apply."

LCG has said it will establish a committee to review applications for the CDBG funds from qualifying local businesses.

To be approved, LCG states that there are three criteria to receive the funds:

  1. All funds must go to low and moderate income recipients (federal requirement of the grant)
  2. Businesses closed by order of the government (more than a few of them are still closed)
  3. Businesses must be unable to otherwise access federal assistance

LCG has said the funds are intended to go to low-income, minority businesses with nowhere else to go.

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