Provides grants to owners of small businesses to rebuild storefronts severely damaged by Hurricane Sandy

BILL NUMBER:S4053A

Title of bill

An act to amend the state finance law, in relation to providing grants to rebuild storefronts damaged by Hurricane Sandy

Purpose

To provide a grant of $10,000 to a small business which has a storefront in order to rehabilitate the facade of the building.

Summary of provisions

To provide a state grant of $10,000 to a small business that was damaged by storms, rains or floods which occurred during the period beginning on October 29, 2012 and ending November 3, 2012. A small business is defined as any business located within this area, independently owned and operated, and employs 50 or less individuals. The grant could only be used to rehabilitate, repair or replace a storefront of a business that existed prior to October 29, 2012, and the business owner must provide proof that the storefront is severely damaged and that the damage was sustained by Hurricane Sandy.

Justification

Hurricane Sandy was a powerful superstorm that struck New York and several neighboring states on October 29, 2012. In Queens, New York, specifically in the Rockaway section, extensive destruction occurred to many small businesses which has devastated the local economy of the community. A grant of $10,000 would provide an opportunity for a small business owner to rehabilitate and / or display new signage on their storefront as a way to beautify the business and to send a message to the community that they are back in business during this economic crisis.

Legislative history

2013: S. 4053 - Referred to Finance.

Fiscal implications

$10,000.

Effective date

Immediately.