The Economic Development Authority (EDA) of the City of Richmond authorized giving participants who have already received a loan through the Richmond Small Business Disaster Loan Program the option to convert those loans to grants. 
 
The city has allocated $1 million of its total $20.1 million federal CARES Act appropriation to the EDA to pay for the program.
 
“Earlier in the year, the EDA stepped up in a big way and provided a loan program to help small businesses keep employees on payroll during the COVID-19 pandemic,” said Mayor Levar Stoney. “With this funding from the city, the EDA will be able to forgive those loans, hopefully relieving some stress on those same businesses.”
 
To date, the EDA has approved 48 loans, totaling $934,920.
 
John Molster, Chair of the EDA stated, “The EDA enthusiastically provided a zero percent interest rate solution to help small business in the city, and we’re glad that those loans can now be repaid with the CARES Act appropriation. We look forward to figuring out how to deploy more financial resources to help our business community.”
 
The city and EDA are finalizing plans to launch a new grant program, using $3 million CARES Act funding, for small businesses that experienced financial losses during the COVID-19 pandemic.
 
Created in April, the Richmond Small Business Disaster Loan Program provided loans of up to $20,000 to eligible small businesses in the city to help pay employee wages.  Under the original program guidelines, payments were deferred for the first six months, with zero percent interest to repay the loan over 48 months.
 
The City of Richmond’s Department of Economic Development is contacting all borrowers under the program to inform them that the loan can be converted to a grant.

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For those citizens seeking relief during the extreme heat and have no other options, here are some options:
 
Richmond Social Services Marshall Plaza Building, located at 900 E. Marshall Street, Richmond, VA and 4100 Hull Street, Richmond, VA, will be open from 11 a.m. – 8 p.m. on Wednesday, July 29, 2020 for those seeking relief. All citizens must wear face coverings while in the building and maintain a safe physical distance of six feet from others.  Seating will be arranged for the appropriate social distancing. (Pets, with the exception of service animals, are not permitted). 
 
 For more information regarding cooling assistance services, city residents should contact the city’s Department of Social Services Fuel Assistance Office at (804) 646-7046. Elderly residents with cooling related issues should contact Adult Services at (804) 646-7367. In the event of a heat related emergency, please call 9-1-1.
 
 
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First investment of $3.5M to fund Shockoe Area Memorial Park campus

Surrounded by members of the Shockoe Alliance, Mayor Stoney committed to funding a capital improvement budget amendment of between $25 and 50 million in the city’s five-year CIP plan specifically for the commemoration and memorialization of Richmond’s complete history.

The mayor asserted that the shared priority of the Shockoe Alliance and city leadership is embracing and telling the truth about Richmond’s history, centralizing the turmoil, resistance, resilience and triumphs of Black Richmond. 

“Black lives built this city. Black lives have defined Richmond’s history. They matter,” said the mayor. “The story of Black lives should span our skyline, our landscape and our textbooks accordingly.”

Priority investments will include the Shockoe Area, various African American burial grounds and the Slave Trail. The effort will begin with a $3.5 million investment in the Shockoe Area Memorial Park. 

The memorial park, a vision developed by the Sacred Ground Historical Reclamation Project – a member of the Shockoe Alliance – and informed by years of community work in the area, will use greenspace and structural sites to create a space of memorialization, education and atonement. The Shockoe Alliance is currently preparing a Small Area Plan for Shockoe which includes the Shockoe Campus concept as part of a larger preservation and memorialization-focused vision which will incorporate the memorial park, a museum and other features. 

The space will encompass the African American Burial Ground, the Devil’s Half Acre site and the two blocks east of the railroad tracks that may constitute a future archeological site.

“In this city, we care about our history. We are our history, no matter how painful that may be to confront, and we are committed to telling our full story,” said Mayor Stoney. “That story, and so rightfully that investment, begins here. On the ground of Shockoe, and in honor of our ancestors.”

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For those citizens seeking relief during the extreme heat and have no other options, here are some options:
 
Richmond Social Services Marshall Plaza Building, located at 900 E. Marshall Street, Richmond, VA and 4100 Hull Street, Richmond, VA, will be open from 11 a.m. – 8 p.m. on Saturday 25, Sunday 26, Monday 27 and Tuesday, July 28, 2020 for those seeking relief. All citizens must wear face coverings while in the building and maintain a safe physical distance of six feet from others.  Seating will be arranged for the appropriate social distancing. (Pets, with the exception of service animals, are not permitted). 
 
 For more information regarding cooling assistance services, city residents should contact the city’s Department of Social Services Fuel Assistance Office at (804) 646-7046. Elderly residents with cooling related issues should contact Adult Services at (804) 646-7367. In the event of a heat related emergency, please call 9-1-1.
 
 
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For those citizens seeking relief during the extreme heat and have no other options, here are some options:
 
Richmond Social Services Marshall Plaza Building, located at 900 E. Marshall Street, Richmond, VA and 4100 Hull Street, Richmond, VA, will be open from 11 a.m. – 8 p.m. on Thursday, July 23 for those seeking relief.  All citizens must wear face coverings while in the building and maintain a safe physical distance of six feet from others.  Seating will be arranged for the appropriate social distancing. (Pets, with the exception of service animals, are not permitted). 
 
 For more information regarding cooling assistance services, city residents should contact the city’s Department of Social Services Fuel Assistance Office at (804) 646-7046. Elderly residents with cooling related issues should contact Adult Services at (804) 646-7367. In the event of a heat related emergency, please call 9-1-1.
 
 
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