Disaster recovery fund grant made to support local businesses
Fund to support businesses at Grow Quad Cities will distribute nearly $400,000 in flood recovery assistance
Representatives from the Quad Cities Chamber announced on Monday, June 24, 2019 that $397,875 is available to help regional businesses in their flood recovery efforts, and applications for fund disbursement are now available.
A total of $50,000 of the nearly $400,000 was granted from the Quad Cities Community Foundation for any businesses directly impacted by floodwater throughout Scott and Rock Island Counties. $25,000 is coming from the Quad Cities Disaster Recovery Fund at the Quad Cities Community Foundation, and an additional $25,000 is being matched by the Quad Cities Community Foundation board of directors through a Transformation Grant.
The board of directors of the Quad Cities Community Foundation, in partnership with the Quad Cities Community Organizations Active in Disasters (QC-COAD) Long Term Recovery Committee, made the grants to Grow Quad Cities to support businesses impacted by floodwaters on both sides of the river.
"The Quad Cities is what it is today because of the individuals, nonprofits and businesses who help to create a thriving, flourishing community," said Sherry Ristau, president and CEO of the Quad Cities Community Foundation. "After an initial grant to support flood-impacted individuals in our region, today we make these grants from the Quad Cities Community Foundation to Grow Quad Cities to support our business community who have remained resilient throughout this record-breaking flood. We hope this grant allows businesses to recover, and get their doors back open again."
Grow Quad Cities is a 501(c)3 designated nonprofit corporation affiliated with the Quad Cities Chamber that advances the general well-being and prosperity of Scott County and the surrounding region.
“This year’s historic flood put a spotlight on the very limited resources available to help businesses recover from state and federal declared natural disasters. Thanks to a very generous Quad Cities community, Grow Quad Cities received funding that will be granted directly to businesses to help them get back on their feet,” said Paul Rumler, president and CEO of the Quad Cities Chamber. “These impacted businesses are critical to the economic well-being of our region, and the Quad Cities Chamber will continue to advocate for additional resources and new solutions to protect and encourage investment along the region’s riverfronts.”
“I’m proud of how our Quad Cities community has rallied to provide support through the Flood Fest benefit relief concert. The support has been immeasurable, not just monetarily but in continuing to help spread the message that downtown is open for business,” said Kyle Carter, Executive Director, Downtown Davenport Partnership, a division of the Quad Cities Chamber. “The Downtown Davenport Partnership board of directors has also stepped up to ensure funding is provided through Davenport’s SSMID.”
The additional two specific categories of funding available include:
$117,875 is available to any Davenport business directly impacted by floodwaters, including downtown, west end or Village of East Davenport businesses. This funding was raised by donations to Grow Quad Cities through Flood Fest donations. Major Flood Fest donors included: AT&T, Endless Brews/RubberStamps.com Lane & Waterman, MidAmerican Energy, Regional Development Authority, Ruhl Commercial and TBK Bank.
$230,000 was approved by the Downtown Davenport Partnership Board of Directors; this funding is available for downtown Davenport property and business owners directly impacted by flooding for building repairs and capital improvements located within the Self-Supporting Municipal Improvement District (SSMID). Grants will be allocated from SSMID funds.
Grant applications for both business and property owner relief are available for download below (click the links to the applications). Davenport businesses located in the SSMID are eligible to apply for both funds:
Grow Quad Cities Business Relief Application
Funding is available for any business directly impacted by floodwater throughout Scott and Rock Island Counties. Funding from Grow Quad Cities can be utilized to cover losses (including equipment, product, revenue and wages). The total amount available to each business will depend on how many businesses apply and the funds available, with an estimated maximum grant of $5,000.
DDP Downtown Davenport SSMID Property/Business Owner Application
Grant funding is available for downtown Davenport properties directly impacted by flooding for building repairs and capital improvements located within the Self-Supporting Municipal Improvement District (SSMID). Businesses are also eligible to apply if financing building improvements. The total amount available to each property will depend on how many properties apply and funds available, with an estimated maximum grant of $10,000 per property. Downtown businesses located in the SSMID are also eligible to apply for the “Grow Quad Cities Business Relief” fund.
Application submissions are due by 5 p.m. on July 3 with distribution to business and property owners expected by July 31. Grow Quad Cities has appointed Downtown Davenport Partnership, a division of the Quad Cities Chamber, to assist in the coordination, administration and distribution of the funds.