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PHASE II - City of Rifle COVID-19 Restaurant Modification Grant Program

Steps

  1. 1. Step One
  2. 2. Application
  3. 3. Statement of Understanding & Certification by Applicant
  • Step One

    1. Program Overview:

      The ongoing COVID-19 pandemic has required the State of Colorado to institute strict operating guidelines for restaurants and, in order to follow these guidelines, many restaurants will need to implement a variety of interior and exterior modifications to their facilities. Restaurants will also be required to implement strict cleaning and operating procedures as well as other measures to ensure the safety of customers. This loan program is designed to help Rifle restaurants offset the costs of meeting the new requirements.

    2. To qualify for funding, restaurants must meet the following criteria:

      1. Applicant must be a primarily dine-in restaurant located within Rifle city limits. Must have been in operation on March 1, 2020.
      2. Applicant must use the funds for interior or exterior modifications or expenses related to the new COVID -19 operating guidelines issued by the State of Colorado.
      3. Applicant must be in good standing with the City of Rifle.
      4. Applicant must provide a detailed accounting of the modifications and/or expenses for which the loan will be used including estimated costs.

    3. Grant Terms:

      1. Grantee shall provide to RREDC receipts or other documents requested by RREDC to ensure that the funds are spent, or are used to reimburse expenses incurred, in accordance with and for the purposes authorized by the CARES Act.
      2. The Grant must be fully utilized not later than December 15, 2020.

    4. Minimum/Maximum Grant Sizes:

      Maximum loan amount will be $5,000 based on documented need/approved uses of funds.

      You may apply for additional funds. Any additional funds applied for are not guaranteed and cause must be shown as to why these funds should be granted.

    5. Grant Fee/matching:

      There will be no fees or matching funds associated with the grant.

    6. Term:

      The Term of this Agreement shall be from the Effective Date until the RREDC has verified proper use of the Grant or December 31, 2020, whichever is sooner.

      The Grant must be fully utilized not later than December 15, 2020. In the event Grantee fails to comply with all of these conditions, Grantee shall be required to return the entire Grant amount to the RREDC.

    7. Collateral:

      The grant is unsecured but will require unlimited authorization of any business owner with 20% or more ownership of the business.

    8. Draw Period:

      Borrower may fully-draw the grant within 24 hours of closing.

    9. NOTE:

      Many businesses will also need to fill out the Planning Department's - Temporary Business Modifications forum, which you can download by clicking here or going to: https://www.rifleco.org//DocumentCenter/View/12054/Temporary-Business-Modifications-Program