ANNAPOLIS, Md. — Annapolis is under a citywide state of emergency. Mayor Gavin Buckley signed a state of emergency declaration on Friday.
The declaration was a result of historic flooding from Tuesday’s storm. Numerous businesses and nonprofits located in the downtown area of Annapolis and Eastport were severely damaged.
The state of emergency will help those recovering from the storm to access the special VOLT Disaster Recovery Grant (DRG) Program. This program is an initiative of the Anne Arundel County Economic Development Corporation.
Its purpose is to help businesses recover from damage and lost business after storm and coastal flooding events.
There are some criteria and requirements each business must meet in order to be approved.
Criteria:
- Each grant will be up to $50,000 per business/non-profit.
- Priority will be given to businesses/non-profits most affected by the flooding and where the funding will be most impactful in returning the business/non-profit to profitability.
- Applicants will be required to submit a budget with the application for the proposed use of the grant. Amount of grant to be announced after application underwriting to determine the amount of loss and gap amount needed.
- Applicants will be required to self-affirm that the grant will be used in the manner described in the application and provide receipts, paid invoices, and/or canceled checks for purchases made.
- Proceeds can be used for legitimate business expenses including physical property repairs, replacement of equipment, replacement of damaged inventory and loss of income from being closed due to damages.
- Grantee certifies that the grant funds will not be used for any expenses that are reimbursed by any other relief programs or losses that are reimbursed by a covered insurance policy related to the City of Annapolis State of Emergency.
- The grant does not need to be paid back as long as it is used for continuing business operations.
Requirements:
- Physical business/non-profit must be located in the City of Annapolis.
- Must be in good standing with the State of Maryland and be a small business as defined by the U.S. Small Business Administration’s (SBA) size standards.
- Required documentation to be submitted:
- Online VOLT Disaster Grant application submitted on Submittable – AVAILABLE BEGINNING JANUARY 16, 2024.
- Copy of 2022 business tax returns, schedule C or 990 tax form.
- Statement of list of damages including details of the loss of income and submit a budget detailing the use of grant proceeds.
- Provide receipts, paid invoices, and/canceled checks for purchases made.
- A completed and signed W-9 form.
- The applicant must be available for a site visit to review damages to the property/business/non-profit.
All applications for the program will be reviewed on a rolling basis. Acceptance will begin on January 16, 2024.
For more information about the program, questions can be sent to Stephen Primosch at sprimosch@aaedc.org.
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